FX.co - EUR/USD analysis for July 06 2021 - Potential for bigger drop towards 1.1730

2021-07-06T11:39:28

Relevance until2021-07-07

Technical analysis:

EUR/USD analysis for July 06 2021 - Potential for bigger drop towards 1.1730

EUR/USD has been trading downside as I expected. The price is heading towards the first objective at 1.1800.

Trading recommendation:

Watch for potential selling on the rallies with the downside targets at 1.1800 and 1.1730.

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

Resistance is set at the price of 1.1890

*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 July 06 2021 - Potential for bigger drop towards 1.1730