InstaForex - Analytics

    InstaForex

    694.50 6.50/10
    61% of positive reviews
    Real

    Technical analysis of EUR/USD for June 15, 2016

    Still in a bearish short-term trend and trapped in a longer-term triangle, EUR/USD is approaching important support at 1.1150 area. Holding above 1.11 could keep the chances of a new upward move towards 1.15 alive.

    analytics57613164f3a78.jpg

    Show full picture

    EUR/USD is trading below the 4-hour Kumo (cloud) and below the short-term red trend line. The trend will change only if price breaks above the red trend line. Support is at the 1.1150-1.1180 area. Oscillators gave bullish divergence signals and that is a warning for bears.

    analytics576131b551231.jpg

    Show full picture

    Black lines - trading range

    EUR/USD has been trading inside a big trading range for a long time since early 2015.The price has been rising for the last 8 months from 1.05 making higher highs and higher lows. The price reached the Ichimoku cloud resistance once again and the rise paused. As long as price is holding above the blue trend line we should expect it to reach 1.15 at least.


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree