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Technical analysis of EUR/USD for June 29, 2015

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Overview:

  • The price of the EUR/USD pair is going to turn bearish from the level of 1.1162 because the resistance has already set at the level of 1.1162 and the double top is seen near the resistance at 1.1195. It is a good sign to sell in this area (formed a big gab) with the first target at 1.0955 to test minor support at this level, which represents a new double bottom in the H1 chart. If the trend is able to break 1.0955, it will call for a downtrend in order to continue its bearish movement towards 1.0780 with a view to the weekly support 3. The weekly support 3 is found at 1.0780 this week. On the other hand, the stop loss should be placed at the level of 1.1200. It should also be noted that the support is expected at 1.0954 today.

The weekly technical analysis of EUR/USD pair:

eurusd_pp.png

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