FX.co - EUR/USD analysis for August 11 2021 - Potential for the rally towards 1.1763

2021-08-11T11:54:56

Relevance until2021-08-12

Technical analysis:

EUR/USD analysis for August 11 2021 - Potential for the rally towards 1.1763

EUR has been trading sideways at the price of 1,1715. There is potential for the rally due to exhaustion and major support at the price of 1,1700.

Trading recommendation:

Watch for buying opportunities on the upside breakout with the target at the price of 1,1763.

RSI is showing positive reading, which is good confirmation for the further rally...

Key support is set at the price of 1,1700

*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 11 2021 - Potential for the rally towards 1.1763