FX.co ★ EUR/USD analysis for June 17 2021 - Massive drop and main objcetive at 1.2000 has been reached. Potential for further drop

Technical analysis:

EUR has been trading strongly downside as I expected. The price reached both downside objectives at the price of 1.2060 and 1.2000 and is heading towards next target at 1.1880.

Trading recommendation:

Watch for potential selling opportunities on the rallies with the downside target at the price of 1.1880.

Stochastic is showing oversold condition but with no evidence for bigger reversal yet.

The main cause of the most recent drop was the exhaustion from buyers and the breakout of the bear flag pattern...