FX.co - EUR/USD analysis for August 25 2021 - Rejection of the resistnace line and potential for drop towards 1.1700

2021-08-25T11:44:20

Relevance until2021-08-25

Technical analysis:

EUR/USD analysis for August 25 2021 - Rejection of the resistnace line and potential for drop towards 1.1700

EUR/USDhas been trading downside in last few hours and I expect further drop towards 1,1700.

Trading recommendation:

Watch for selling opportunities on the rallies with the downside targets set at 1,1715 and 1,1700.

Stochastic oscillator is showing fresh bear cross with good price action for the downside continuation.

Key resistance is set at the price of 1,1760

*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 25 2021 - Rejection of the resistnace line and potential for drop towards 1.1700