For Traders

Analytical Reviews

Technical analysis

29.06.202004:56 Forex Analysis & Reviews: Forecast for EUR/USD on June 29, 2020

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD

The euro tested the bearish target level of 1.1195 for the second time last Friday, the day ended at the opening level. As a result, the situation has not changed - the euro retains its intention to break through the support and move down to the price channel line of the higher timeframe, to the target of 1.1108, with an open intention to overcome this goal as well. The Marlin oscillator indicates the prospect of a decline of about 2-3 figures, which entered the downward trend zone two days ago and there is room for movement in front of it.

The price is consolidating under the balance indicator line on the four-hour chart, Marlin in the negative trend zone. We are waiting for the price to overcome the signal level of 1.1195, which opens the way to 1.1108.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.