EUR/USD analysis for August 01, 2023 – Rejection of the resistance and potential for the downside movement
August 1, 2023 8:23 am
Technical analysis:
EUR/USD has been trading downside this morning and I found rejection of the middle Bollinger band, which is good sign for the further downside continuation.
Due to the downside cycle and lower highs and lower lows in the in the background, I see potential for the further drop towards lower references.
Downside objectives are set at 1.0950 and 1.0845
Stochastic oscillator is showing fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of 1.1045
The material has been provided by InstaForex Company – www.instaforex.com
Technical
analysis:
EUR/USD
has been trading downside
this morning and I found rejection of the middle Bollinger band,
which is good sign for the further downside continuation.
Due
to the downside cycle and lower highs and lower lows in the in the
background, I see potential for the further drop towards lower
references.
Downside
objectives
are set at 1.0950 and 1.0845
Stochastic
oscillator is showing fresh downside cross, which is another good
sign for the further downside movement.
Key
resistance is set at the price of 1.1045
The material has been provided by InstaForex Company – www.instaforex.com
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