FX.co ★ EUR/USD Downside Prevails

EUR/USD is located below 1.17, deep in the seller's territory. The price has rebounded a little but the outlook is still bearish, it should drop towards fresh new lows as long it stays below 1.17 and under the red downtrend line.

The 1.17 retest followed by a strong drop suggests selling. Also, a drop below 1.1626 yesterday's low confirms a deeper drop as well.

• EUR/USD Trading Tips

Sell from below 1.1626 low or after a sideways movement below 1.17 psychological level. The next major downside targets are seen at 1.15 and lower at 1.14 levels.