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EUR/USD accelerates its crash!

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EUR/USD On The Way Down!

The EUR/USD pair resumed its downside movement as expected. As you already know from my analyses, the pair was expected to drop deeper as long as it stays under the downtrend lines.

Also, dropping below 1.1687, 1.1667, 1.1626, and 1.1615 former lows signaled strong sellers and a potential further drop.

EUR/USD Trading Conclusion!

EUR/USD is strongly bearish, it could drop further, after ignoring the former lows. The downside bias remains intact as long as it stays under the downtrend line. 1.1550 and 1.1500 are seen as the next downside obstacles, potential targets, if the pair resumes its sell-off.

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