empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

13.06.201811:05 Forex Analysis & Reviews: Technical analysis of EUR/USD for June 13, 2018

Long-term review
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.

Exchange Rates 13.06.2018 analysis

Overview:

The EUR/USD pair rose from the level of 1.1673 towards 1.1837 this week. Now, the current price is set at 1.1743. On the H1 chart, the resistance is seen at the levels of 1.1798 and 1.1837. Besides, the weekly support 1 is seen at the level of 1.1673. Today, the EUR/USD pair is continuing to move in a bullish trend from the new support level of 1.1673, to form a bullish channel. Amid the previous events, we expect the pair to move between 1.1673 and 1.1837. Therefore, buy above the level of 1.1673 with the first target at 1.1798 in order to test the daily resistance 1 and further to 1.1837 (double top). Nevertheless, if the pair fails to pass through the level of 1.1673, the market will indicate a bearish opportunity below the level of 1.1673. The market will decline further to 1.1634 in order to return to the last bearish wave. Additionally, a breakout of that target will move the pair further downwards to 1.1586.

Comment:

- The weekly pivot is seen at the level of 1.1712.

- The market is still in an uptrend. We still prefer the bullish scenario.

Mourad El Keddani
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off