FX.co ★ EUR/USD Downside Continuation Pattern!

EUR/USD Near Demand Zone!

EUR/USD registered a strong downside movement after failing to stabilize above the upward channel's upside line. Now, it's trading at the 1.1329 level above the uptrend line. Technically, as long as it stays above the uptrend line, the EUR/USD could start raising again.

The upward channel pattern could represent a downside continuation pattern if the rate drops below the uptrend line.

EUR/USD Trading Conclusion!

Droping below the uptrend line and below the 1.1278 former low could activate a larger downside movement and could bring new selling opportunities.