FX.co - EUR/USD analysis for September 06, 2021 - Absorption of the buying climax in the background and potential for bigger drop

2021-09-06T11:46:37

Relevance until2021-09-07

Technical analysis:

EUR/USD analysis for September 06, 2021 - Absorption of the buying climax in the background and potential for bigger drop

Absorption of the climatic buying from Friday. Watch for potential downside movement and test of 1,1800

Trading recommendation:

Due to absorption of the buying climax in the background and the breakout of the rising trend line, I see potential for the drop towards 1,1800.

Watch for selling opportunities with the downside targets at 1,1835 and 1,1800.

Key resistance is set at the price of 1,1905

*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 06, 2021 - Absorption of the buying climax in the background and potential for bigger drop