FX.co - EUR/USD analysis for June 11 2021 - Strong downside momentum and potential for test of 1.2060

2021-06-11T12:18:44

Relevance until2021-06-13

Technical analysis:

EUR/USD analysis for June 11 2021 - Strong downside momentum and potential for test of 1.2060

EUR has been trading downwards as I expected. The EUR is heading towards downside swings at 1.2060.

Trading recommendation:

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

Downside targets are set at the price of 1.2106 and 1.2060.

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 June 11 2021 - Strong downside momentum and potential for test of 1.2060