The Fiber still continues its down movement to reach the Weekly BIVI (Buy side Imbalance Volume Imbalance) area at 1.0820 - 1.0777 after in the previous week the pair touched the 4-hour chart Bearish Fair Value Gap area (Magenta). The EUR/USD pair has been trading with the bearish trend for a few weeks. As long the pair not made a significant pullback to the upside and not does break out and closes above 1.0892, EUR/USD is set to trade downwards aiming to fill the BIVI area.
Overall the bias for EUR/USD is Bearish.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com