The pattern of price movement on the main charts changed again yesterday when the US dollar was seen not to continue its decline.
On the other hand, the currency king showed a recovery again to reduce some of the losses suffered from before.
However, analysts see that the situation is likely to be normal for a price correction (correction) before the price resumes trend movement.
As on the chart of the EUR/USD currency pair, the price has previously broken through the resistance of 1.08000 and extended the rise to reach the 1.09000 zone.
Testing the resistance zone, the price started showing a decline on Thursday yesterday to a level around 1.08550.
The price movement, however, is still hovering above the Moving Average 50 (MA50) support line on the 1-hour time frame on the EUR/USD chart, which is considered a bullish signal for the price.
If the price goes up again, the 1.08000 resistance zone is expected to be broken before the price records the latest high.
Next, the target is to go to the concentration zone which is in the 1.1000 zone.
However, if the price continues to decline at the close of the week, investors can expect a decline to reach around 1.08000.
If the price breaks lower below the zone, it will be a clearer signal for a bearish trend movement for the price.
