EUR/USD forecast for June 26, 2015

June 26, 2015

General overview

The euro zone will not please market participants with interesting macroeconomic statistics. The USA and Germany 10-year government bonds yields negative differential again expanded and already reached the maximum level over the past 3 weeks.

The United States published the initial jobless claims report. The data showed a growth from 267 000 up to 271 000. The forecast was 273 000.

The downward trend turned to a short-term consolidation below the resistance level of 1.1260.

The price is finding the first support at 1.1150, the next one is 1.1050. The price is finding the first resistance at 1.1260, the next one is at 1.1450.

There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a horizontal movement and form a “Dead Cross”. The downward movement will be until the price is under the Cloud.

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

Trading recommendations

We suppose the pair will go to 1.1260 first. Having overcome the first target the price might go upwards to 1.1450.

Publication source
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