EURUSD: Downtrend is still strong

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The EURUSD continues to maintain a price below the 1.0800 level after facing significant downward pressure last week. The current trading level is 1.078, with a slight recovery indicated by a green candle at the beginning of the week. However, this increase has yet to be confirmed as safe, as technical analysis on the daily chart shows a convergence between price and EMA, creating a barrier and challenge to the potential continuation of the EURUSD's recovery.

The outlook remains bearish for this currency pair in the coming period, with a defensive target at the 1.070 level.

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