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. Currently, prices are trading around the 1.1787 level, and further downside movement is expected during today’s session.

Major Economic News
The US dollar is awaiting the release of unemployment claims, employment data, and job turnover figures today. In addition, the European interest rate decision is scheduled, along with a speech by Christine Lagarde, President of the European Central Bank, which may impact the euro and, consequently, 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 if a four-hour candle closes above the 1.1877 level.