FX.co ★ EUR/USD: temporary growth

EUR/USD Strong Selling Pressure!

The EUR/USD pair increased a little in the short term after its massive drop. Still, this could be only temporary growth. It could drop deeper as long as it stays under the 1.0911 and 1.0953 former lows which represent upside obstacles.

After the last drop, EUR/USD was somehow expected to come back to retest the near-term upside obstacles before resuming its downwards movement. 1.0843 is seen as a critical downside obstacle.

EUR/USD Trading Conclusion!

Staying below 1.0911 and dropping below 1.0843 could activate a downside continuation. This could help the sellers to catch a larger drop.