Forecast for EUR/USD on June 29, 2020

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EUR/USD

The euro tested the bearish target level of 1.1195 for the second time last Friday, the day ended at the opening level. As a result, the situation has not changed – the euro retains its intention to break through the support and move down to the price channel line of the higher timeframe, to the target of 1.1108, with an open intention to overcome this goal as well. The Marlin oscillator indicates the prospect of a decline of about 2-3 figures, which entered the downward trend zone two days ago and there is room for movement in front of it.

The price is consolidating under the balance indicator line on the four-hour chart, Marlin in the negative trend zone. We are waiting for the price to overcome the signal level of 1.1195, which opens the way to 1.1108.

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The material has been provided by InstaForex Company – www.instaforex.com

Source:: Forecast for EUR/USD on June 29, 2020

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