FX.co ★ EUR/USD analysis for July 28, 2022 - Breakout of the sideways base

Technical analysis:

EUR/USD has been trading downside today and there is potential for the another breakout to the downside. I see potential for further downside continuation.

Trading recommendation:

Due to the strong supply today and potential for the another downside breakout, I see potential for the further drop.

Watch for potential selling opportunities on the rallies with the downside objective at 1.0000.

Stochastic is showing overbought condition and fresh bear cross, which is sign for the further downside movement.

Key resistance is set at the price of 1.0250