FX.co - EUR/USD analysis for August 10 2021 - Key support at the price of 1.1705 can be on the test

2021-08-10T11:35:28

Relevance until2021-08-12

Technical analysis:

EUR/USD analysis for August 10 2021 - Key support at the price of 1.1705 can be on the test

EUR/USD has been trading downside but the key support at the price of 1,1705 can be on the test.

Trading recommendation:

Due to the lack of sellers around major pivot level at 1,1700, I see potential for the rally towards previous swing lows at 1,1755.

Watch for potential rejection of the key pivot to confirm upside movement.

Stochastic oscillator is showing oversold condition...

*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 10 2021 - Key support at the price of 1.1705 can be on the test