FX.co - EUR/USD analysis for October 11, 2021 - Potential completion of the ABC upside correction

2021-10-11T11:31:58

Relevance until2021-10-12

Technical analysis:

EUR/USD analysis for October 11, 2021 - Potential completion of the ABC upside correction

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

Trading recommendation:

My advice is to watch for selling opportunities on the rallies due to potential completion of the ABC correction in the background.

Downside objectives are set at the price of 1,1530 and 1,1500

Stochastic oscillator is showing fresh bear cross, which is another sign of the weakness....

Resistance is set at the price of 1,1585

*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 11, 2021 - Potential completion of the ABC upside correction