EUR/USD: Several signals bearish to address before a very busy day

© O Financista.

After rising slightly in the early hours of the day yesterday, the EUR/USD pair has corrected, and accentuates its decline on Tuesday morning.

The absence of reasons for the Euro to advance was as much to blame as the index Empire State above the expectations published in the afternoon, and that has strengthened the Dollar.

Today, the Euro-Dollar will face a economic calendar particularly busy, with the ZEW index of business climate in German at 11am, before the retail sales-US at 14: 30, industrial production at 15: 15, and a speech by Powell to 19h.

From a graphical point of view, the context of the short-term is more bearish. The pair EUR/USD has indeed sent several negative signals this morning, breaking below 1.1250, and under its moving averages 100 and 200 hours.

At this stage, the next support potential will be the low of last Friday to 1.1238, before 1.12, then 1.1180 and 1.1106, the lowest this year.

The increase, 1.1265 will be the first potential resistance, before the area 1.1285, and then 1.13. Beyond 1.13, we may assume that the bias is becoming more bullish, and the first targets in this case will 1.1350 and 1.14.

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