FX.co - EUR/USD analysis for October 13, 2021 - Downside continuation in the play

2021-10-13T12:46:16

Relevance until2021-10-14

Technical analysis:

EUR/USD analysis for October 13, 2021 - Downside continuation in the play

EUR/USD has been trading upside this morning but I see potential for the downside rotation due to overbought condition.

Trading recommendation:

Watch for selling opportunities due to re-test phase of the defined channel in the background.

Downside targets are set at the price of 1,1525

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Resistance level are 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 13, 2021 - Downside continuation in the play