The EUR/USD pair drops after registering only a temporary rebound. It has increased a little trying to retest the 1.0814 former low. As long as it stays under the downtrend line, the price could approach and reach new lows.
Today's low of 1.0771 is seen as a downside obstacle. Dropping below it may signal more declines. Only jumping and stabilizing above the downtrend line could signal that the downside movement ended and that the buyers could take it higher.
EUR/USD Trading Conclusion!Staying below the downtrend line and dropping below today's low of 1.0771 could confirm a deeper drop and could help the sellers to catch a larger downside movement.