FX.co - EUR/USD analysis for May 26 2021 - Downside movement expected towards the 1.2220 and 1.2200

2021-05-26T08:45:55

Relevance until2021-05-27

Technical analysis:

EUR/USD analysis for May 26 2021 - Downside movement expected towards the 1.2220 and 1.2200

EUR has been trading downloads. There is the breakout of the rising trend-line, which is sign for the further downside movement.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside targets at 1.2220 and 1.2205.

Additionally, I placed parallel line based on the upper trendline and the projection is towards 1.2220

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

*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 May 26 2021 - Downside movement expected towards the 1.2220 and 1.2200