EURUSD Trading for June 20, 2020

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Best Binary Options Broker 2020!
    Ideal for beginners!
    Free Demo Account + Free Trading Education!
    Get a Sign-up Bonus:

  • BINOMO
    BINOMO

    2nd place in the ranking!

EURUSD – June, 20.

This chart is independent from the H1 chart. So if you decide to trade it, please make sure to have proper MM that is suitable for the daily timeframe .

INSERT TEXT IN “GOOGLE TRANSLATE”: https://translate.google.com/
Expect price to reverse in the reversal zone and head back to the target zone.
To enter short, sell a break of the daily low. Stops just above the high of the entry candle.

Trade closed: target reached: 1. Price re-entered into the reversal zone deeply as expected
2. Price went into the target zone also as expected.
3. Next expect a correction

EUR/USD,Forex Daily Analysis for June 20.

The pair is currently hoping to expand on its force past 100-day SMA, above which bulls are probably going to point towards recovering the 1.1300 handle. Taking a gander at a marginally more extensive specialized picture, the pair stays well inside a plunging pattern channel development stretching out from early-Jan. swing highs. Along these lines, any consequent up-move appears to be bound to be topped by the pattern channel obstruction, as of now close to the 1.1330-40 . Just a conclusive achievement the referenced boundary may invalidate any close term bearish inclination and lift the pair further towards the 1.1400 round figure mark.

EUR/USD pair saw some plunge purchasing on Wednesday and recuperated the past session’s hesitant ECB-drove slide to fourteen day lows. The US Dollar was on edge in the midst of improving worldwide hazard slant – driven by reestablished confidence over a conceivable goals to the drawn out US-China exchange debates and was viewed as one of the key variables stretching out help to the major. The intraday positive energy got an extra lift after the Fed, as was generally expected, flagged conceivable financing cost cuts not long from now.

We are a world-wide group of experienced professional traders, we trade forex for many years.

EUR/USD Technical Analysis: Euro Soars as Global Markets Crumble

EUR/USD TECHNICAL ANALYSIS: NEUTRAL

  • Euro soars to 13-month month high against the US Dollar
  • Downtrend from 2020 broken, key resistance near 1.14 mark
  • Short-term positioning hints a pullback may be in the cards

The Euro soared the highest level in 13 months against the US Dollar as breakneck liquidation gripped financial markets at the start of the trading week. The surge extends an expected recovery from a three-year low that took out the early-2020 downtrend last week.

Prices are now testing resistance in the 1.1412-19 area, marked by the June 2020 swing top and the 61.8% Fibonacci retracement of the EUR/USD downtrend from September 2020. Breaking above that on a daily closing basis probably opens the door for a test of the 78.6% level at 1.1593.

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Best Binary Options Broker 2020!
    Ideal for beginners!
    Free Demo Account + Free Trading Education!
    Get a Sign-up Bonus:

  • BINOMO
    BINOMO

    2nd place in the ranking!

EUR/USD daily chart created with TradingView

Immediate support appears to be at 1.1297, the 50% Fib. A turn back below that with confirmation of a breach – again, on a daily closing basis – initially eyes former resistance at 1.1239 (December 31 high). This is followed by the 38.2% retracement at 1.1174.

In fact, negative RSI divergence on the four-hour chart warns that the move higher may be losing strength however, opening the door for a pullback. Neutralizing near-term selling pressure in earnest probably calls for a breach of rising trend support guiding recent gains, now effectively at the 1.12 figure.

EUR/USD 4-hour chart created with TradingView

Best Binary Options Brokers 2020:
  • BINARIUM
    BINARIUM

    Best Binary Options Broker 2020!
    Ideal for beginners!
    Free Demo Account + Free Trading Education!
    Get a Sign-up Bonus:

  • BINOMO
    BINOMO

    2nd place in the ranking!

Like this post? Please share to your friends:
All About Binary Options Trading
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: