EUR/USD In Bear Race

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The EUR/USD chart is showing a clear bearish trend, with the price moving below both the 34 and 89 EMAs, indicating strong selling pressure. The 34 EMA has crossed the 89 EMA and is heading downwards, further reinforcing the bearish trend. The fact that the price continues to stay below these two EMAs is not a very optimistic sign for those who are expecting a recovery in the euro against the US dollar.

In the current scenario, the next important support point could be the 1.0400 area. If EUR/USD continues to decline and breaks this level, we could see a deeper decline, testing new lows. This requires traders to keep a close eye on the market developments and be ready to adjust their strategies to suit the current trend.

From a technical perspective, the current recovery appears to be just a technical recovery before the continuation of the downtrend. This increases the possibility of further declines, especially when there are no clear signs of a trend reversal. Investors need to carefully consider the risks and have a suitable capital management plan to avoid unnecessary losses in the current context.