FX.co - EUR/USD analysis for August 13 2021 - Major resistance at 1.1770 is on the test

2021-08-13T12:29:29

Relevance until2021-08-13

Technical analysis:

EUR/USD analysis for August 13 2021 - Major resistance at 1.1770 is on the test

EUR/USD has been trading upside today but I see potential for the downside rotation.

Trading recommendation:

Main resistance at the price of 1,1770 is on the test and there is no good volume on the upside move, which is sign for me that EUR can rotate lower.

Watch for selling opportunities with the downside targets at 1,1740 and 1,1710.

Stochastic oscillator is showing overbought condition and potential for the downside rotation.

*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 13 2021 - Major resistance at 1.1770 is on the test