FX.co - EUR/USD analysis for July 20 2021 - Watch for the breakout of the falling wedge pattern

2021-07-20T11:14:21

Relevance until2021-07-23

Technical analysis:

EUR/USD analysis for July 20 2021 - Watch for the breakout of the falling wedge pattern

EUR/USD has been trading sideways at the price of 1,1780 but I see falling wedge pattern in creation.

Trading recommendation:

Watch for potential buying opportunities if you see the upside momentum or decent pullback.

I expect upside movement due to falling wedge pattern and contraction in last few days. Upside targets are set at the price of 1,1845 and 1,1965.

RSI oscillator is showing oversold condition and potential for the upside rotaion...

*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 20 2021 - Watch for the breakout of the falling wedge pattern