EUR/USD forecast for June 22, 2015

June 22, 2015

General overview

The May US inflation came out in the zero area while the market had expected the index of + 0.1%. In this regard, we get another negative factor for the US dollar. It is also necessary to note the payments balance report- the deficit has been over 100 billion dollars for two calendar quarter which is a direct consequence of the US dollar revaluation.

The European regulator has increased by 1 billion euro the amount that the Greece Bank to borrow under the emergency lending program.

Buyers failed to consolidate above the strong resistance level of 1.1450.

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 and the Kijun-sen show a horizontal movement. The upward movement will be until the price is above the Cloud.

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

Trading recommendations

The pair can grow to the resistance level of 1.1450. After breaking 1.1450 the buyers may go to 1.1675.

Publication source
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