FX.co - EUR/USD analysis for October 19, 2021 - Key resistance at 1.1670 held successful

2021-10-19T12:41:22

Relevance until2021-10-20

Technical analysis:

EUR/USD analysis for October 19, 2021 - Key resistance at 1.1670 held successful

EUR/USD has been trading upside but I see that EUR is testing major resistance at 1,1670. I see potential for the downside continuation.

Trading recommendation:

The long term trend is still bearish and my advice is to watch for selling opportunities. I see potential completion of the ABC correction.

Downside targets are set at the price of 1,1580 and 1,1535

Stochastic is showing overbought condition and potential for the drop towards 1,15803

Key resistance is set at 1,1670

*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 19, 2021 - Key resistance at 1.1670 held successful