FX.co - EUR/USD analysis for June 09, 2022 - Breakout of the consolidation to the downside

2022-06-09T14:22:35

Relevance until2022-06-10

Technical analysis:

EUR/USD analysis for June 09, 2022 - Breakout of the consolidation to the downside

EUR/USD has been trading downside today and there is the breakout of the consolidation in the background.

Trading recommendation:

Due to the breakout of the consolidation, I expect further downside movement.

Watch for selling opportunities on the intraday rallies with the downside objective at the price of 1.0545.

Stochastic is showing downside momentum, which is good for further drop.

Key resistance is set at the price for 1.0775

*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 June 09, 2022 - Breakout of the consolidation to the downside