FX.co - EUR/USD analysis for August 03 2021 - Inside day formation and potential for the breakout play

2021-08-03T12:18:37

Relevance until2021-08-06

Technical analysis:

EUR/USD analysis for August 03 2021 - Inside day formation and potential for the breakout play

EUR/USD has been trading sideways at the price of $1,1885. There is potential for the breakout play and new directional move.

Trading recommendation:

Watch for the breakout of the consolidation to confirm further direction.

Upside breakout of the resistance at the price of 1,1907 will confirm upside movement towards 1,1980.

Downside breakout of the support at 1,1850 will confirm downside movement towards 1,1780

*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 03 2021 - Inside day formation and potential for the breakout play