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FX.co ★ EUR/USD analysis for October 12, 2021 - Potential for the downside continuation

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Forex Analysis:::2021-10-12T08:50:58

EUR/USD analysis for October 12, 2021 - Potential for the downside continuation

Technical analysis:

EUR/USD analysis for October 12, 2021 - Potential for the downside continuation

EUR/USD has been trading sideways at the price of 1,1563 but I see potential for the downside continuation .

Trading recommendation:

Due to the potential completion of the ABC and breakout of channel, I see potential for the downside continuation towards 1,1530 and 1,1530.

Stochastic oscillator is showing upside momentum.

Key resistance is set at 1,1585

Analyst InstaForex
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