Recently, the EUR/USD pair has been trading downwards. As I expected, the price tested the level of $1,278.00 (first target met). Anyway, according to the H1 time frame, I have found that sellers are in control and that key support will be at the price of $1,275.90. Watch for a breakout of the key support to confirm further downward continuation.
Trading advice: We are still holding short positions from $1,282.00. We will add new short position if the Gold breaks through the level of $1,275 with the profit target at $1,266.20.
The material has been provided by InstaForex Company -
www.instaforex.com