The currency pair continues to move sideways in the short term. The rate failed to stay above the uptrend line in the last attempt signaling exhausted buyers and strong sellers. Now, it is almost to reach the 1.0658 former low which represents a downside obstacle.
You already know from my previous analysis that dropping below the uptrend line may announce that the uptrend is over and that the sellers could drag it down.
EUR/USD Outlook!Dropping and stabilizing below 1.0658 may announce a deeper drop. This scenario is seen as a selling opportunity as well.