FX.co ★ EUR/USD analysis for August 08 2022 - Trading range regime, potential for the breakout modee

Technical analysis:

EUR/USD has been trading sideways for 14 days and there is potential for the breakout in next period.

Trading recommendation:

Due to the trading range regime for 2 weeks, I see potential for further breakout mode.

In case of the upside breakout of the resistance at the price of 1.0290, watch for buying opportuntiies on the dips with the upside objective at 1.0460

In case of the downside breakout of the support at 1.0105, watch for selling opportunities on the rallies with the downside objective at 0.9970