EUR/USD Decline Seems Over

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EUR/USD found demand, support, at 1.1781 and now it could challenge the downtrend line which represents an upside obstacle, a dynamic resistance. The pair could extend its downside movement only if it drops below 1.1781 former low.

The pair could develop an upside movement if it jumps above the downtrend line and if it passes above 1.1841 former high.

Trading Conclusion!

We may have a good buying opportunity if EUR/USD jumps above 1.1841 high. 1.1900 psychological level is seen as a potential upside target.

The material has been provided by InstaForex Company - www.instaforex.com

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