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

January 20, 2017
Advance in inflation across the Eurozone
Euro holds gains against the US Dollar ahead of the ECB rate decision, as majority of economists expect no major updates in the policy, while investors will be taking stock of Draghi rhetoric’s to foresee the timeframe of the next big move by the policymakers...
January 20, 2017
US oil inventory draw gave a temporally support for oil prices
Oil prices remained in red figures after Wednesday's bearish acceleration. Brent a little changed on the day and remained prone to more weakness on Thursday. The benchmark stayed neutral around 54.50 dollars per barrel flirting with the level during the European session...
January 20, 2017
Pound gives up gains
The British pound has pulled back sharply today after making its biggest 1day gain in nearly 20 years’ yesterday, as fears once again crept in about where Brexit will lead to...

FxPro Rating
XTB Rating
Tickmill Rating
FIBO Group Rating
OctaFX Rating
Vantage FX Rating

Banc De Binary Rating
Binary.com Rating
Dragon Options Rating
IQ Option Rating
365BinaryOption Rating
Binary Brokerz Rating