{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eurusd-resumes-its-market-trend-downward\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eurusd-resumes-its-market-trend-downward\/","headline":"EURUSD Resumes Its Market Trend Downward","name":"EURUSD Resumes Its Market Trend Downward","description":"EURUSD Analysis – The Market Resumes Its Trend Downward EURUSD resumes its market trend downward. The EUR currency has been falling against the USD currency since February 10, 2022. The fall began after a few months of indecision in the market as the bulls and bears struggled to keep the market order flow in one […]","datePublished":"2022-08-09","dateModified":"2022-08-09","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/08\/euro-2day.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/08\/euro-2day.png","height":565,"width":1280},"url":"https:\/\/forexschoolonline.com\/eurusd-resumes-its-market-trend-downward\/","about":["EUR\/USD","Forex Strategies","FX Technical Analysis","Price Action Charts in Focus","Support & Resistance","Trade Idea","Trade Setups"],"wordCount":321,"keywords":["Daily Chart","EURUSD","Forex","forex price action","FX Technical Analysis","Market Anticipation","Market Prospect","Price Action","Price Analysis","Price Chart","Technical Analysis","Trade idea"],"articleBody":"EURUSD Analysis – The Market Resumes Its Trend DownwardEURUSD resumes its market trend downward. The EUR currency has been falling against the USD currency since February 10, 2022. The fall began after a few months of indecision in the market as the bulls and bears struggled to keep the market order flow in one specific direction. As the bulls got beaten out of the market, the market dived downward. The higher momentum coupled with the Moving Averages (MA) Cross further confirmed the downtrend.Market Major ZonesDemand Zones: 1.0170, 0.9600Supply Zones: 1.0360, 1.0780As prices dived downward, the previous support level at 1.0780 was broken. The impulsive move caused by the bear’s downward seemed to continue forever until the last support at 1.0360 was reached. The previous support drove the market upward towards the supply zone at 1.0780. As the market approached the supply zone, the bulls began to close their long positions, resulting in a more rapid downtrend from the supply zone. The previous support level at 1.0360 was retested twice before it was invalidated by the new impulsive wave that began on June 27, 2022. As indicated by the Stochastic RSI indicator, the bears kept driving the market downward even in an oversold region until a correction began on July 14, 2022. Prices keep rallying upward to a Fibonacci retracement level as the market retraces against the motive trend.Market ExpectationOn the four-hour timeframe, the market order flow had been bearish until the change in character on July 18, 2022. Currently, the bulls seem to be struggling to keep prices rallying upward as higher highs and higher lows become challenging to spot. The supply zone at 1.0360 and the Fibonacci retracement level at 0.618 are expected to lead the market downward till the swing low formed on July 27, 2022, gets broken. Note:\u00a0Forexschoolonline.com\u00a0is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}