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FX.co ★ EUR/USD analysis for August 12 2021 - Breakout of the consolidation to the downside

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Forex Analysis:::2021-08-12T13:21:21

EUR/USD analysis for August 12 2021 - Breakout of the consolidation to the downside

Technical analysis:

EUR/USD analysis for August 12 2021 - Breakout of the consolidation to the downside

EUR/USD has been trading downside and there is the breakout of the consolidation, which is good confirmation for the downside movement.

Trading recommendation:

Watch for selling opportunities with the downside target at the rice of 1,1710 and 1,1700.

Stochastic oscillator is showing bear cross and no extreme condition, which is good sign for further downside movement.

Key resistance is set at the price of 1,1750

Analyst InstaForex
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