FX.co - EUR/USD analysis for September 03, 2021 - Breakout of the rising channel in the background

2021-09-03T11:22:23

Relevance until2021-09-03

Technical analysis:

EUR/USD analysis for September 03, 2021 - Breakout of the rising channel in the background

EUR/USD has been trading upside in last 24 hours but I see potential for the downside movement and reversion to the mean type of activity.

Trading recommendation:

Watch for selling opportunities due to the breakout of the rising channel and the sideways base.

Downside targets are set at the price of 1,1855 and 1,1835.

Stochastic oscillator is showing bear reading with no evidence for the reversal.

*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 September 03, 2021 - Breakout of the rising channel in the background