FX.co - EUR/USD analysis for July 19 2021 - Falling wedge in creation

2021-07-19T12:13:31

Relevance until2021-07-22

Technical analysis:

EUR/USD analysis for July 19 2021 - Falling wedge in creation

EUR has been trading downwards at the price of 1,1770 but I see falling wedge in creation and potential for the rally in the next period.

Trading recommendation:

Watch for buying opportunities due to extreme downside condition and due to the falling wedge pattern in creation.

Upside target is set at 1,1855

Stochastic is showing extreme condition and bullish divergences, which is another sign for the rally...

Key support is set at 1,1770

*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 19 2021 - Falling wedge in creation