EUR/USD Further Growth Still Possible!

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EUR/USD failed to stabilize above the 1.1900 psychological level. Now, it is located at 1.1862. Unfortunately, it has dropped below the 1.1877 level which was seen as an upside obstacle, a resistance.

Staying below this level could signal a deeper decline in the short term. On the other hand, coming back above 1.1877 could signal further growth.

Trading Conclusion!

Consolidation above the 1.1900 psychological level is seen as a potential buying opportunity with a first upside target at 1.1950.

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

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