FX.co ★ EUR/USD Ignores All Downside Obstacles!

EUR/USD is trading at 1.1748 level below 1.1760 former low, support level. The breakdown below this downside obstacle signals a further decline in the short term.

I've told you in my previous analyses that EUR/USD is expected to drop deeper after dropping below the 1.1834 level and after its failure to stay above the last minor uptrend line.

Forecast!

The current drop below 1.1760 former low is seen as a selling opportunity with a first downside target at 1.1700 psychological level.