FX.co - EUR/USD analysis for August 15 2022 - Trading range regime, potential for the breakout modee

2022-08-15T08:51:38

Relevance until2022-08-16

Technical analysis:

EUR/USD analysis for August 15 2022 - Trading range regime, potential for the breakout modee

EUR/USD is trading downside this morning with the strong momentum, which is good sign for further drop.

Trading recommendation:

Due to the breakout of the rising trend-line in the background and strong downside momentum I see potential for further drop.

Watch for potential selling opportunities on the intraday rallies with the downside objectives at 1.0120 and 1.0000.

MACD oscillator is showing strong downside momentum with no signs for the reversal.

Key resistance is set at the price of 1.0275

*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 August 15 2022 - Trading range regime, potential for the breakout modee