FX.co ★ EUR/USD: minor drop?

EUR/USD Strong Upside Pressure!

The EUR/USD pair registered strong growth in the short term and now it has reached the 1.0441 former high which represents an upside obstacle. It has retreated a little after reaching this level but this could be only temporary.

The 1.0357 historical level represents a downside obstacle (support). As long as it stays above it, the currency pair could resume its growth. Technically, after escaping from the down-channel pattern, the price signaled exhausted sellers and a potential upwards movement.

EUR/USD Trading Conclusion!

Jumping and stabilizing above 1.0441 validates an upside continuation and help the traders to buy this pair.