FX.co ★ EUR/USD sentiment could change

EUR/USD buyers could be exhausted

The EUR/USD pair is likely to drop in the short term. It was traded at 1.1412 at the time of writing. As you can see on the h4 chart, the price challenges the uptrend line which represents a dynamic obstacle. If it stays above it, EUR/USD could resume its growth.

The 1.1480 higher high is seen as an upside obstacle. Technically, dropping below the uptrend line and staying below the 1.1480 could announce that the upside movement ended. In my opinion, staying above the uptrend line and passing above the 1.1480 could signal an upside continuation.

EUR/USD trading conclusion

Dropping below the uptrend line may announce that we may have a fresh downside movement. This scenario may bring selling opportunities as the EUR/USD's growth is likely to be over.