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EUR/USD Reversal Pattern?

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EUR/USD downside movement is still intact as long as it stays under the downtrend line. We don't have a trading opportunity right now, it's risky to sell it as long as it stays above 1.1774 former low.

Also, we don't have a buying opportunity as long as it stays under the downtrend line. We may have a buying opportunity if the rate jumps and stabilizes above the downtrend line.

Trading Conclusion!

We may have a new buying opportunity if the pair jumps above the downtrend line and if it passes above 1.1877 former high. 1.2000 psychological levels could be used as an upside target.

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