Technical analysis:
EUR/USD has been trading sideways at the price of 1.0860. EUR is still in the short-term downside cycle and I expect further bearish movement.
Trading recommendation:
Watch for potential breakout of contraction to confirm further direction.
If the price breaks the level of 1.0853, I see potential for the downside movement towards 1.0815
Stochastic is showing fresh bear cross and overbought condition, which is sign that downside rotation is possible.
Resistance is set at 1.0875
