FX.co - EUR/USD analysis for June 29 2021 - Breakout of the bear flag pattern and potential for the bigger drop

2021-06-29T11:25:28

Relevance until2021-06-30

Technical analysis:

EUR/USD analysis for June 29 2021 - Breakout of the bear flag pattern and potential for the bigger drop

EUR/USD has been trading downwards as I expected. There is the breakout of the bear flag pattern and potential for the bigger drop.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside targets at the price of 1.1855 and 1.1715.

The short term trend is still down based on the last week close.

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 29 2021 - Breakout of the bear flag pattern and potential for the bigger drop