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EUR/USD: remains below its parity

5:35 PM 5 September 2022

Today's session is relatively calm for the EUR/USD pair. However, it is important to note that the euro continues to trade below its parity with the US dollar. Besides that, EUR/USD reached 20-year lows.


4 hours Time Frame Chart

Bears have regained control of the price after breaking the lower limit of the structure. As long as the price remains below the structure, the downward movement could intensify.

If market sentiment deteriorates again, the bearish move could extend towards the lower boundary of the main channel.


EUR/USD, 4 hours time frame chart. Source: xStation

 


Despite all the bearish pressures, during this session, CHF is leading the gains.

Source: currency-strength.com

Henrique Tomé, XTB Portugal

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