FX.co - EUR/USD analysis for August 02 2021 - Breakout of consolidation and potentia lfor rally towards 1.965

2021-08-02T12:35:57

Relevance until2021-08-03

Technical analysis:

EUR/USD analysis for August 02 2021 - Breakout of consolidation and potentia lfor rally towards 1.965

EUR has been trading upwards as I expected. I see potential for further rally towards $1,910

Trading recommendation:

Due to the bullish trend and the breakout of the sideways regime, watch for buying opportunities on the pullbacks.

Upside targets are set at the price of $1,908 and $1,968.

Stochastic oscillator is showing negative reading but there is no price action to confirm.

*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 August 02 2021 - Breakout of consolidation and potentia lfor rally towards 1.965