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.comfrom RobotFX
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