FX.co ★ EUR/USD Dropped As Expected!

EUR/USD plunged in the short term and now is located at 1.1892 level. I've told you in my previous analyses that, EUR/USD could develop an important drop as long as it stays under the downtrend line and if it declines below the 1.2095 level.

Technically, the pair could drop further towards the 1.1836 level. You can see that EUR/USD has found some demand in the past around this level. Now, is too late to sell EUR/USD because it could rebound a little after this amazing sell-off.

Trading Conclusion!

EUR/USD could resume its drop. You should wait for temporary growth before selling this pair again.

On the other hand, buying is risky as the selling pressure is high.