FX.co - EUR/USD analysis for July 06 2020 -Potential for the downside rotation casue of rising resistance on the test at 1.1315

2020-07-06T11:51:00

Relevance until2020-07-07

Trading recommendation:

EUR/USD analysis for July 06 2020 -Potential for the downside rotation casue of rising resistance on the test at 1.1315

EUR is trading at the rising resistance, which is sign that buying looks very risky around 1,1300.

I see potential for the rotation downside towards the levels at 1,1257 and 1,1222.

Stochastic oscillator is in overbought area, which is another indication for the downside rotation.

Watch for selling opportunities with the downward targets at 1,1257 and 1,1222

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for July 06 2020 -Potential for the downside rotation casue of rising resistance on the test at 1.1315