FX.co ★ EUR/USD analysis for July 09 2020 - Fake breakout of the reisstance at 1.1350 and potential for further drop towards 1.1265

Technical analysis:

EUR/USD has been trading downwards. The price tested the level of 1,3160. I see potential for the further drop due to the fake breakout of the resistance at 1,1346.

Trading recommendation:

Watch for potential selling opportunities due to the fake breakoujt of the resistance at 1,1346 and rejection of the Fibonacci expansion 100%.

Downward targets are set at the price of 1,1267 and 1,1220