Technical Analysis of EUR/USD

EUR/USD is moving in a bearish trend on the four-hour timeframe. Prices reversed lower from the 1.1831 level, which represents a Fair Value Gap on the four-hour chart. The DFVG area around the 1.1890 level also represents an important selling zone. Further downside movement is expected during today’s session.

Major Economic News
The US dollar is awaiting the release of the ADP Non-Farm Private Employment Change data today, which is expected to have a direct impact on the markets, especially on the EUR/USD pair.

Liquidity Levels
Prices are expected to decline targeting the 1.1730 level, followed by the 1.1671 level.

Scenario Invalidation
The bearish scenario will be invalidated, based on the conditions mentioned in the report, if price visits the 1.1920 level.