FX.co ★ EUR/USD analysis for October 01, 2021

Technical analysis:

EUR/USD has been trading upside today but I see potential exhaustion and downside rotation.

Trading recommendation:

Due to strong downside trend on larger time-frame and extreme upside reading today, my advice is to watch for selling opportunities.

Downside targets are set at 1,1575 and 1,1565.

Stochastic is showing overbought condition with divergence, which is sign for further downside movement.

Resistance is set at 1,1625