EUR/USD 1.0983 As Downside Obstacle!
The EUR/USD pair is trading at the 1.1008 level at the time of writing. It tries to grow after failing to drop below 1.0983 former low. Technically, the price dropped below the uptrend line signaling that the upside movement ended and that the sellers could take full control.
You already knew that EUR/USD could develop a new downwards movement if it drop below the uptrend line.
EUR/USD Trading Conclusion!
The 1.0983 former low represents a static downside obstacle. Dropping below it could activate a larger drop. This scenario may help the sellers to catch a new downward movement.
