FX.co ★ EUR/USD analysis for July 19, 2022 - Key pivot is set at the price of 1.0333

Technical analysis:

EUR/USD has been trading upside today and there is the big resistance level at the price of 1.0333. Watch for the price action around this key pivot level to confirm further direction.

Trading recommendation:

Due to buying climax today and extreme upside condition, I see potential for the downside rotation.

Watch for potential selling opportunities as long the market is holding below the pivot at 1.335.

Downside objective is set at the price of 1.0025.

MACD oscillator is showing strong downside condition, which is sign that momentum is still strong.