FX.co - EUR/USD analysis for August 25 2022 - Potential for the downside brekaout of the channel

2022-08-25T08:23:32

Relevance until2022-08-26

Technical analysis:\

EUR/USD analysis for August 25 2022 - Potential for the downside brekaout of the channel

EUR/USD has been trading upside this morning but I see potential for the downside rotation due to lack for the buying power.

Trading recommendation:

Due to the rejection of the resistance at 1.0016 I see potential for further downside movement.

Watch for potential selling opportunities on the rallies with the downside objectives at 0.9950 and 0.9910.

Stochastic oscillator is showing fresh bear cross, which his sign that downside rotation is possible.

Key resistance is set at the price of 1.0016

*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 25 2022 - Potential for the downside brekaout of the channel