FX.co ★ EUR/USD analysis for October 25, 2021 - Strong downside breakout of balance

Technical analysis:

EUR/USD has been trading strongly to the downside. The EUR did breakout of rising trend line and there is still more potential for further drop towards 1,1527.

Trading recommendation:

Due to strong downside momentum and the breakout of the rising trend line, I see potential for the downside continuation.

Watch for selling opportunities on the rallies with the downside targets at the price of 1,1575 and 1,1525.

Stochastic is showing fresh new bear cross, which is another sign for weakens...

Key resistance is set at the price of 1,1666