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07.06.202221:55 Forex Analysis & Reviews: EURUSD Daily candle gives hopes to bulls.

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Exchange Rates 07.06.2022 analysis

Blue lines -bearish channel

EURUSD is trading above 1.07 once again. Today's Daily candle is a glimpse of hope for bulls as price moved as low as 1.0652 but is now trading near its daily highs. EURUSD has formed a higher low relative to the 1.0627 low a few days earlier. Although price remains inside the medium-term bearish channel, there is potential for a move towards the upper boundary near 1.0920. As long as price is above 1.0627 we remain optimistic that bulls will challenge the upper channel boundary.

Alexandros Yfantis
Analytical expert of InstaForex
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