EUR/USD has been trading upside this morning but I see potential for the downside rotation due to lack for the buying power.
Trading recommendation: Due to the rejection of the resistance at 1.0016 I see potential for further downside movement. Watch for potential selling opportunities on the rallies with the downside objectives at 0.9950 and 0.9910. Stochastic oscillator is showing fresh bear cross, which his sign that downside rotation is possible. Key resistance is set at the price of 1.0016
Relevance up to 10:00 2022-08-26 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.