EUR/USD could drop deeper after falling below the uptrend line and as long as it stays under the new downtrend line. It's traded at 1.1941 level after failing to reach 1.2 psychological level again signaling some selling pressure.
The pair has increased a little in the short term, that's why I've drawn a minor back uptrend line. It could still increase in the short term as long as it stays above this minor dynamic support (uptrend line).
Dropping and stabilizing below the minor uptrend line and below 1,19 could signal that EUR/USD will resume its downtrend, downside movement in the upcoming period.
Trading Conclusion!
Dropping back below 1.19 and under the minor uptrend line signal a further decline in the short term. 1.18 and 1.17 levels are seen as the next downside potential targets.
