EUR/USD is pretty far away from yesterday’s high. Surely, those trading the couple have noticed the steep tumble that the couple took in the last couple of hours. And it is our main task for now to see why the fall came in the first place. What became the reason for it? Well, I can tell you that it is surely not something that happened inside of EU but rather a sum of multiple outer factors.

So, what drove EUR so low against the greenback? Well, it is likely that yesterday’s surge of the couple towards $1.12 point became the reason for thousands of traders to settle and take profits, causing the outflow of traders from the market. The more people left with their wins, the less traders there were left for EUR/USD to lean on for support. Naturally, now we have to wait for the couple to sink even lower – that is when traders are expected to come back and create the demand for the couple.

Surely, there is also another factor, which would be pretty obvious at this point. And it is safe heaven search. USD is soaring higher today and that is reflected in USD relationship with all the other currencies.

The downtrend is very strong, and we have to be prepared that the couple is going to sink even lower in the next couple of days.

What will happen next? Let trading signals give you the answer!