FX.co - EUR/USD analysis for June 02 2021 - Breakout of the consolidation and potential for another drop towards 1.2135

2021-06-02T14:20:35

Relevance until2021-06-03

Technical analysis:

EUR/USD analysis for June 02 2021 - Breakout of the consolidation and potential for another drop towards 1.2135

EUR/USD has been trading downwards as I expected. I still see potential for the downside continuation and potential test of 1.2135.

Trading recommendation:

Watch for potential selling opportunities on the rallies using the intraday time-frames 15/30 minutes.

Downside target is set at the price of 1.2135.

Stochastic is showing bear condiiton with no evidence of the bullish cross, which is sign for the further downside continuation.

Projected parallel line is another indication that drop can continue.Resistance is set at 1.2250

*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 June 02 2021 - Breakout of the consolidation and potential for another drop towards 1.2135