empty
 
 
15.06.2020 01:43 PM
EUR/USD analysis for June 15, 2020 - Bigger drop incoming on the EUR/USD due to the breakout of the upward channel. Downside target set at 1.1145

Corona virus summary:

This image is no longer relevant

Looking at the latest coronavirus numbers, an upward trend in new COVID-19 cases was evident on Saturday.

On Sunday, the number of new coronavirus cases rose by 124,839 to 7,984,332. On Saturday, the number of new cases had risen by 140,913. The daily increase was lower than Saturday's rise while up from 123,802 new cases from the previous Sunday.

Germany, Italy, and Spain reported 909 new cases on Sunday, which was down from 914 new cases on Saturday. On the previous Sunday, 610 new cases had been reported.

From the U.S, the total number of cases rose by 19,920 to 2,162,144 on Sunday. On Saturday, the total number of cases had risen by 26,905. On Sunday, 7

Technical analysis:

EUR/USD has been trading downwards. I see potential for the further drop towards the level at 1,1145 (recent swing high)

Trading recommendation:

Watch for potential selling opportunities on the rallies using the intraday time-frames. There is the bearish divergence on the daily time-frame in the background, which is clear sign for the further downside cycle.

Downward target is set at the price of 1,1145

Resistance levels are set at the price of 1,1275

Support level is set at 1,1145.

Summary
Urgency
Analytic
Petar Jacimovic
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback