FX.co ★ EUR/USD analysis for July 10 2020 - EUR started the drop as I expected. Potential for furher drop towards the 1.1200

Technical analysis:

EUR/USD has been trading downwards as I expected. I still see further downside due to breakout of the rising trend line.

Trading recommendation:

Based on the 4H time-frame price action chart, we found that there is the breakout of the rising trendline and the fake breakout of the resistance yesterday at 1.1345, which is sign for the further downside rotation...

Watch for selling opportunities on the rallies using the intraday charts like 15/30 minutes for better entry location

Downward references (targets) are set at 1.1225-1.1200

Major resistance is set at 1.1345