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09.06.202005:09 Forex Analysis & Reviews: Forecast for EUR/USD on June 9, 2020

EUR/USD

The euro closed at the opening level on Monday, supported by the target level of 1.1265. The Marlin oscillator has strengthened the decline on a daily basis. On the first attempt, the price failed to overcome the immediate support, today we are waiting for a more successful attempt. Target at 1.1200.

Exchange Rates 09.06.2020 analysis

Price taking above support at 1.1265 is visible on the H4 chart. The signal line of the Marlin oscillator is on the territory of the declining trend - in the lower half of negative values. We are waiting for the price to try overcoming the nearest support and decrease to 1.1200 and further to 1.1125 - to the price channel line on the daily.

Exchange Rates 09.06.2020 analysis

It is possible to open short positions when the price overcomes the signal support of 1.1200 and with the specified goals.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Laurie Bailey,
Analytical expert
InstaForex Group © 2007-2021
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