EUR/USD: review and forecast for June 10, 2015

June 10, 2015

General overview

The euro/dollar has been showing a high volatility since the summer beginning which may be related to the liquidity drop in the summer months. We have seen quite contradictory movements in major currency pairs in the last 2 weeks. The weak UK trade balance may support the cross-rate EUR/GBP which in turn will allow the pair EUR/USD to test the level of 1.1450.

The Friday's dollar growth was offset by the strong euro growth. Buyers not only managed to get out of the descending channel, but also to break through two resistance level of 1.1260.

The price is finding the first support at 1.1260, the next one is 1.1150. The price is finding the first resistance at 1.1450, the next one is at 1.1675.

There is a confirmed and a strong buy signal. The price is above the Cloud and it is above the Chinkou Span. The Tenkan-sen shows an upward movement and the Kijun-sen shows a horizontal movement and form a “Golden cross”. The upward movement will be until the price is above the Cloud.

The MACD indicator is in a positive territory. The price is consolidating.

Trading recommendations

The upward bounce potential target are 1.1450, 1.1675.

Publication source
Fort Financial Services information  Fort Financial Services reviews

September 30, 2016
The OPEC greases the wheels for oil
The global equities rally led by the gains in the energy sector after the OPEC members cut a deal in Algiers, despite the market scepticism and repeated statements that the Oil officials in Iran and Saudi Arabia are not able to find a middle ground in the current conditions...
September 30, 2016
Opec deal no certainty
In a huge surprise to the market, members of the Opec cartel agreed to cut production by as much as 700,000 barrels a day with some predicting that this may be the start of a new upward trend for oil...
September 30, 2016
Brent futures consolidated their gains
Brent rose in the European session after a surprised OPEC decision to cut oil output. Moreover, a draw in U.S. crude stocks gave an additional support for oil prices...

FXCM Rating
FBS Rating
HotForex Rating
OANDA Rating
XM Rating
OctaFX Rating

IQ Option Rating
TropicalTrade Rating
24option Rating
EZTrader Rating
OptionTrade Rating
Binary Brokerz Rating