FX.co ★ EUR/USD analysis for July 07 2020 - EUR did drop as I expected. and the first downward has been reached at 1.1275. Further bigger drop in play towards 1.1170

Technical analysis:

EUR/USD has been trading downwards as I expected. The EUR reached my yesterday's first target at 1,1260 and is heading for the second target at 1,1170.

Trading recommendation:

Watch for potential downside continuation and the breakout of the rising wedge on the 4H time-frame, which would confirm the further downside movement towards my second target at 1,1170.

Resistance level is set at the price of 1,1304

Support level is set at 1,1250