Price levels around 1.1700 has been holding prices for a short period of time before another price decline took place towards 1.1200.
Shortly after, the price zone around 1.1500 has applied significant SELLING pressure when a valid SELL Entry was offered upon the previous ascending movement towards it.
Since then, the EUR/USD pair has been moving downwards reaching the price levels of 1.0850, 1.0400, 1.0000 and recently 0.9600.
The market remains under Selling pressure unless a strong upside movement manages to break above 1.0000.
In the mean time, any downside movement towards 0.9500 should be watched for BUYING pressure where a new upside movement can be established.
The material has been provided by InstaForex Company – www.instaforex.com