FX.co - EUR/USD analysis for July 16 2021 - Fake breakout of the low and potential for rally towards 1.1835

2021-07-16T12:19:20

Relevance until2021-07-17

Technical analysis:

EUR/USD analysis for July 16 2021 - Fake breakout of the low and potential for rally towards 1.1835

EUR/USD has been trading downwards today but I see big support at the price of 1.1797. Watch for the upside rotation.

Trading recommendation:

Watch for potential bullish opportunities due to the potential exhaustion from sellers in the balanced regime.

Upside targets are set at the price of 1.1820 and 1.1835.

Stochastic oscillator is showing oversold condition and potential for the upside rotation....

*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 16 2021 - Fake breakout of the low and potential for rally towards 1.1835