EUR/USD analysis for October 13, 2021 - Downside continuation in the play

Technical analysis: EUR/USD has been trading upside this morning but I see potential for the downside rotation due to overbought condition. Trading recommendation: Watch for selling opportunities due to re-test phase of the defined channel in the background. Downside targets are set at the price of 1,1525 Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation. Resistance level are set at 1,1570The material has been provided by InstaForex Company - www.instaforex.com

EUR/USD analysis for October 13, 2021 - Downside continuation in the play

Technical analysis:

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EUR/USD has been trading upside this morning but I see potential for the downside rotation due to overbought condition.

Trading recommendation:

Watch for selling opportunities due to re-test phase of the defined channel in the background.

Downside targets are set at the price of 1,1525

Stochastic is showing fresh bear cross, which is another sign and confirmation for the downside rotation.

Resistance level are set at 1,1570

The material has been provided by InstaForex Company - www.instaforex.com