22.07.202109:17 Forex Analysis & Reviews: EUR/USD Continuation Or Reversal?

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EUR/USD increased and now is almost to reach the downtrend line. Passing above it could signal that the downside movement is over and that the pair could register an important growth.

It remains to see how it will react after reaching the downtrend line. You can see that the downtrend line acts as dynamic resistance, it has rejected the price. Technically, a larger decline will be confirmed by a potential drop below 1.1765 static support, former low.

Forecast!

Jumping above the downtrend line could signal a potential growth towards the 1.1877 high. A larger growth could be signaled by a breakout above this level.

You can sell EUR/USD if the price drops below 1.1765 and under the 1.1750 psychological level. 1.1700 level is seen as a potential downside target.

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