EURUSD continues to hug a trendline as the US Dollar remains supported amid uncertainty ...Middle East

On the 1 hour chart, we can see that the upside in the EURUSD pair has been capped by a trendline. This looks like a textbook downtrend and the sellers will likely continue to lean on the trendline to keep pushing into new lows with a defined risk just above the trendline. The buyers, on the other hand, will want to see the price breaking higher to start targeting new highs.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

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