FX.co ★ EUR/USD imminent breakdown

EUR/USD Downside Pressure!

As you already know from my previous analyses, the EUR/USD pair is trapped between the downtrend and the uptrend lines. The price has found strong supply after reaching the 1.1126 former low which represents an upside obstacle.

As long as it stays under the downtrend line, the bias is bearish, EUR/USD could drop deeper. Only jumping and stabilizing above the downtrend line and above 1.1126 may activate a larger growth.

EUR/USD Trading Conclusion!

Dropping and stabilizing below 1.1000 psychological level and below the uptrend line could announce that the upwards movement ended and that the pair could develop a new downwards movement.