FX.co ★ EUR/USD trapped in range pattern

EUR/USD Exhausted Buyers!

The EUR/USD pair is moving sideways between 1.0441 and 1.0283 levels. Its failure to jump above 1.0441 former high signaled exhausted buyers. The 1.0283 former low represents the first downside target and obstacle.

As long as it stays above this level, the EUR/USD pair could still resume its upside movement. Still, only jumping and staying above 1.0441 could confirm further growth.

EUR/USD Forecast!

Dropping and stabilizing below 1.0283 activates more declines. This is seen as a selling opportunity.