FX.co - EUR/USD analysis for October 26, 2021 - Potetnial for the downside continuation

2021-10-26T13:08:13

Relevance until2021-10-27

Technical analysis:

EUR/USD analysis for October 26, 2021 - Potetnial for the downside continuation

EUR/USD has been trading upside this morning but I see potential for the downside continuation.

Trading recommendation:

Due to the breakout of the balance in the background and test of major resistance at 1,1625m I see potential for the downside continuation.

Watch for selling opportunities with the downside targets at 1,1592 and 1,1575

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

Additionally, there is completion of the ABC upside correction in the background

*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 26, 2021 - Potetnial for the downside continuation