FX.co - EUR/USD analysis for July 01 2021 - Fibonacci cluster at the price of 1.1880 and potential for the downside rotation

2021-07-01T12:52:47

Relevance until2021-07-02

Technical analysis:

EUR/USD analysis for July 01 2021 - Fibonacci cluster at the price of 1.1880 and potential for the downside rotation

Gold has been trading upside but I see potential for the downside rotation and extreme intraday reading.

Trading recommendation:

Watch for potential selling opportunities due to strong resistance at 1.1880 and downside trend in the background.

Downside target is set at the price of 1.1840.

There is rejection from the massive Fibonacci cluster at 1.1880, which is good confirmation for the downside continuation.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

FX.co ★ EUR/USD analysis for July 01 2021 - Fibonacci cluster at the price of 1.1880 and potential for the downside rotation