FX.co - EUR/USD analysis for June 07 2021 - Breakout of the consolidation and potentia lfor drop towards 1.2105

2021-06-07T08:41:41

Relevance until2021-06-08

Technical analysis:

EUR/USD analysis for June 07 2021 - Breakout of the consolidation and potentia lfor drop towards 1.2105

EURUSD has been trading downwards this morning and there is the breakout of the consolidation to the downside.

Trading recommendation:

My advice is to watch for selling opportunities on the rallies with the downside targets at the price of 1.2105 and 1.2055.

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

Additionally, there is the rejection of the supply trend line...

Key resistance is set at 1.2175

*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 07 2021 - Breakout of the consolidation and potentia lfor drop towards 1.2105