Investors' attention will be focused on the debt market dynamics. The German 10-year bond yields renewed the historical low that points out to the euro low attractiveness. The cross-rate EUR/GBP downward trend strengthening may put pressure on the pair EUR/USD.
The downward trend has "accelerated". We cannot say that the trading volumes support sellers, but the trend remains stable. The price broke through the support level of 1.0670 and came close to the support level of 1.0550.
The price is finding the first support at 1.0550, the next one is at 1.0420. The price is finding the first resistance at 1.0670, the next one is at 1.0790.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is consolidating.
After the trend line 1.0550 breakthrough down the way to the support 1.0420 will be opened.