FX.co ★ EUR/USD: downside reversal

EUR/USD 1.0792 Downside Obstacle!

The EUR/USD pair dropped below the uptrend line signaling that the uptrend ended and that the sellers could take the lead. Now, it has moved sideways and its failure to pass above the 1.0869 former high announced exhausted buyers.

It's almost to reach the 1.0792 former low which represents a static downside obstacle. As long as it stays above it, the price could come back higher.

EUR/USD Trading Conclusion!

Dropping and stabilizing below 1.0792 may announce a deeper drop. This could help traders to sell the EUR/USD pair.