FX.co - EUR/USD analysis for October 12, 2021 - Potential for the downside continuation

2021-10-12T08:50:58

Relevance until2021-10-13

Technical analysis:

EUR/USD analysis for October 12, 2021 - Potential for the downside continuation

EUR/USD has been trading sideways at the price of 1,1563 but I see potential for the downside continuation .

Trading recommendation:

Due to the potential completion of the ABC and breakout of channel, I see potential for the downside continuation towards 1,1530 and 1,1530.

Stochastic oscillator is showing upside momentum.

Key resistance is set at 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 12, 2021 - Potential for the downside continuation