EURUSD – High probability of a downtrend

23.05.2022

On the H4 period, the EURUSD pair quotes are below the 200-day moving average, which indicates a downward trend. In the current situation, testing of the 2/8 level is expected, followed by its breakdown and the price falling to support at 1/8. The cancellation of such a scenario will be the overcoming of resistance at 3/8, which may lead to a change in trend and an increase in quotes to the level of 5/8.