13.06.201916:48 Forex Analysis & Reviews: EUR/USD analysis for June 13,2019

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 has been trading downwards today. The price tested the level of 1.1268. We found the breakout of the important support trend lines in the background, which is sign that we may see further lower price on EUR.

Yellow line 1 - horizontal support 1 (1.1210)

Yellow line 2- horizontal support 2 (1.1120)

White line – Broken support trendline

Blue lines – Broken upward channel in the background

There are breaks today of the important support trendlines in the background, which is for us sign that selling looks good. Most recently, we found the breakout of the intraday bear flag on the H1 time-frame, which is good confirmation that sellers are in control on the EUR/USD.The MACD oscillator is showin us continuation of the downward momentum and you should watch for selling opportunities with the targets at 1.1210 and 1.1120. Key short-term resistance is set at the price of 1.1302.

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.