Wake Up In The Morning Straight EUR/USD Plunges Down!

<p>&nbsp;The horizontal price movement throughout Monday yesterday began to change at the opening of the Asian session this morning (Tuesday).</p><p><br /></p><p>The US dollar failed to show a clear direction at the beginning of the week as the American market was also closed in conjunction with a public holiday there.</p><p><br /></p><p>However, the US dollar began to strengthen this morning with analysts seeing the factor driving the situation as risky market sentiment following the increasingly tense turmoil in the Middle East.</p><p><br /></p><p>Observing the movement on the chart of the EUR/USD currency pair, the horizontal price around 1.09500 yesterday just moved in a range of 20-30 pips only.</p><p><br /></p><p>The Moving Average 50 (MA50) barrier level on the 1-hour time frame on the chart was also tested, but remained to prevent the price from making gains.</p><p><br /></p><p>A decline was seen in the Asian session this morning to around 1.09200 which is the lowest level reached last week.</p><p><br /></p><p>The price drop is expected to go towards the 1.08800 concentration zone with the price reaction around it to be observed.</p><p><br /></p><p><br /></p><p>A lower breakout will push prices lower towards the target at the 1.08000 zone.</p><p><br /></p><p>If the situation changes and sees a surge in price, a rise above the MA50 barrier will expect the 1.10000 resistance level to be tested again this week.</p><p><br /></p><p>If finally the resistance is passed, the higher rise will continue towards the target zone at the height of 1.11000.</p><p><br /></p><p>German economic ZEW survey data will be watched by investors in the European session shortly to see the impact on the movement of the Euro currency.</p>