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14.10.202113:35 Forex Analysis & Reviews: EUR/USD analysis for October 14, 2021 - Potential for downside rotation

Technical analysis:

Exchange Rates 14.10.2021 analysis

EUR/USD has been trading upside but I see potential for the downside movement due to test of resistance at 1,1620.

Trading recommendation:

Downside trend is still active short-term and my advice is to watch for selling opportunities with the downside targets at 1,1590 and 1,1545.

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

Key resistance is set at 1,1620

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Petar Jacimovic,
Analytical expert of InstaForex
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