EUR/USD analysis – 'bearish' sign, price dropped below $ 1.0700

<p>The price movement in the market is mixed with the US dollar currency to lose the strengthening momentum shown from the beginning of the week.</p><p><br /></p><p>At the New York session yesterday, the US Dollar showed a gloomy performance with its depreciation of the value of an analyst to take place following a US NFP Job Report published late last week.</p><p><br /></p><p>Today's focus will be on speech by Federal Reserve (Fed) Chairman Jerome Powell in a New York session for investors to get the latest indications on monetary policy.</p><p><br /></p><p>Observing price movements on the EUR/USD currency pair chart, prices initially made an early decrease in the European session to about 1.06650.</p><p><br /></p><p>However, prices bounce back in the New York session see prices rising to test the 1.07000 level that are at the forefront of the price.</p><p><br /></p><p>The euro currency traded gloomy yesterday as German industrial production data was published with declining numbers.</p><p><br /></p><p>Despite the increase in the New York session, investors are still looking at the price movement in the bearish trend where prices are still below the Moving Average 50 (MA50) barrier line on the 1 hour frame on the EUR/USD chart.</p><p><br /></p><p><br /></p><p>If the lower decline is extended today, the target is for the price of around 1.06000 which is one of the previous price focus zones.</p><p><br /></p><p>The lower decline will be heading to the Support Zone of 1.05000.</p><p><br /></p><p>However, if the price spike is on display later, the price moving above the 1.07000 zone will surpass the MA50 barrier for the bullish movement change signal.</p><p><br /></p><p>The increase will continue to overcome the height reached early of the week around 1.07500 before targeting the latest peak at 1.08000.</p>