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FX.co ★ EUR/USD analysis for July 05 2021 - Exhasution from buyers and potential for drop towards 1.1850

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Forex Analysis:::2021-07-05T11:38:12

EUR/USD analysis for July 05 2021 - Exhasution from buyers and potential for drop towards 1.1850

EUR/USD analysis for July 05 2021 - Exhasution from buyers and potential for drop towards 1.1850

Technical analysis:

EUR/USD has been trading upwards due to the the news on Friday but I see potential for the downside rotation.

Trading recommendation:

Watch for potential selling opportunities due to potential end of the upside correction and the drift pattern.

Downside targets are set at the price of 1.1850 and 1.1810.

Stochastic is showing overbought condition and fresh bear cross, which is another sign and confirmation for the downside rotation.

Key resistance is set at the price of 1.1800

Analyst InstaForex
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