FX.co - EUR/USD analysis for October 07, 2021 - Downside continuation in the play

2021-10-07T12:09:31

Relevance until2021-10-08

Technical analysis:

EUR/USD analysis for October 07, 2021 - Downside continuation in the play

EUR/USD has been trading upside this morning but I see potential downside continuation in the play.

Trading recommendation:

Due to strong downside cycle and potential end of the upside correction, there is potential for the downside opportunities.

Watch for selling opportunities with the downside targets at 1,1530 and 1,1500

Stochastic is showing bear divergences in the background, which is another sign fo the weakness.

Resistance is set at 1,1570

*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 October 07, 2021 - Downside continuation in the play