FX.co - EUR/USD analysis for October 15, 2021 - Downside potential towards 1.1585

2021-10-15T11:39:55

Relevance until2021-10-16

Technical analysis:

EUR/USD analysis for October 15, 2021 - Downside potential towards 1.1585

EUR/USD has been trading sideways at the price of 1,1605 but I see potential for the downside movement.

Trading recommendation:

Downside trend is still downside in the background and my advice is to watch for selling opportunities.

Downside targets are set at 1,1585 and 1,1545

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

Resistance is set at 1,1620

*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 15, 2021 - Downside potential towards 1.1585