EUR/USD analysis for June 13, 2022 - Strong downside momentum after the breakout

JPY: Assessing the FX Intervention Zone and Market Conditions

Relevance up to 13:00 2022-06-14 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical analysis:

EUR/USD has been trading downside due to the breakout of the multi-day consolidation. Selling power and momentum are still strong so there is chance for furhter downside movement. Trading recommendation: Due to the breakout of the consolidation in the background and strong momentum to the downside I expect further downside movement. Watch for selling opportunities on the rallies with the next main objective at 1.0355. MACD is showing new momentum to the downside, which is another sign for further bearish market. Key resistance i set at the price of 1.0760

 

 

Read more: https://www.instaforex.eu/forex_analysis/279811

JPY: Assessing the FX Intervention Zone and Market Conditions

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