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17.06.201907:03 Forex Analysis & Reviews: Forecast for EUR/USD for June 17, 2019

EUR/USD

On Friday, the euro fell by 64 points, breaking the support of the price channel line (1.1245). The decline stopped at the balance line of the daily scale (red indicator line) and at the moment of reaching the signal line of the Marlin oscillator the border with the territory of negative numbers - the territory of the market trend decline.

Today in the Asian session, there is a slight correction in the euro. Perhaps, the resistance of the price channel at 1.1245 might work out, after which, according to the main scenario, we are waiting for the price to consolidate below the MACD daily scale (1.1200), consolidation below the level offers the prospect of pulling down the price to the Fibonacci level of 123.6% on the price of 1.1075. Price output above 1.1245 may deepen the corrective growth to the MACD line of the four-hour scale, to 1.1282.

Exchange Rates 17.06.2019 analysis

Exchange Rates 17.06.2019 analysis

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

Laurie Bailey,
Odborný analytik spoločnosti InstaForex
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