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EUR/USD analysis for August 09 2021 - Bracketing market and potential for the breakout play

Technical analysis:

analytics61113d68e276e.jpg

EUR/USD is trading sideways in the tight bracketing regime. Watch for the breakout to confirm further direction..

Trading recommendation:

Watch for the breakout of the tight consolidation to confirm further direction.

Downside breakout of 1,1740 can confirm further test of 1,1707

Upside breakout of resistance at 1,1770 can confirm test of 1,1825

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