Technical Analysis of EUR/USD for June 10, 2020


Technical Market Outlook:

The Shooting Star candlestick pattern that was made at the supply zone located between the levels of 1.1347 – 1.1361 is likely to be tested soon. The bulls are still pushing the price higher, but please notice, the market has started coming off the overbought conditions, so the odds for the move down are now high. The mid-term trend on EUR/USD remains up, but the main long-term trend is still down. The key short-term technical support is still seen at the level of 1.1148.

Weekly Pivot Points:

WR3 – 1.1696

WR2 – 1.1546

WR1 – 1.1432

Weekly Pivot – 1.1266

WS1 – 1.1137

WS2 – 1.0969

WS3 – 1.0859

Trading Recommendations:

On the EUR/USD pair the main long term trend is down, but the local up trend continues. The key long-term technical support is seen at the level of 1.0336 and the key long-term technical resistance is seen at the level of 1.1540. Only if one of this levels is clearly violated, the main trend might reverse (1.1540) or accelerate (1.0336).

The material has been provided by InstaForex Company –

Source:: Technical Analysis of EUR/USD for June 10, 2020:

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Related Posts

Leave a Reply