FX.co - EUR/USD analysis for July 13 2021 - Completion of ABC and potential for test of 1.1785

2021-07-13T12:05:35

Relevance until2021-07-14

Technical analysis:

EUR/USD analysis for July 13 2021 - Completion of ABC and potential for test of 1.1785

EUR/USD has been trading downside as I expected. I see potential for the downside continuation towards 1.1785.

Trading recommendation:

Watch for potential selling opportunities on the rallies due to completion of the upside ABC correction.

Downside target is set at the price of 1.1785

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Key resistance is set at 1.1810

*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 13 2021 - Completion of ABC and potential for test of 1.1785