FX.co ★ EUR/USD: uptrend line violated

EUR/USD Buyers Still In Game!

The EUR/USD pair is trading at 1.0716 at the time of writing. As you can see on the H1 chart, the rate dropped below the uptrend line and under the 1.0680 downside obstacles, signaling that the upside movement could be over.

Still, the rate failed to stay under these downside obstacles confirming that the buyers are still very strong. Today's low of 1.0659 represents a downside obstacle, while the former high of 1.0792 represents an upside obstacle.

EUR/USD Trading Conclusion!

Dropping again below 1.0680 and under today's low of 1.0659 activates a larger drop and brings new selling opportunities.