FX.co ★ EUR/USD Aims At 1.2

EUR/USD continues to drop as expected after dropping below 1.2141 former low, static support level. The bearish, downside, bias remains intact as long as it stays below the downtrend line.

The next important downside target, obstacle, is seen at the 1.2000 psychological level. Dropping and stabilizing below this level announce a further decline towards 1.19.

Trading Conclusion!

EUR/USD is expected to resume its downside movement after dropping through 1.2100. The 1.2000 psychological level could be used as the first downside target.