Fluctuations Or Stability? FX: What To Do With Euro To Dollar (EUR/USD)? - 06/06/22 | InstaForex

The Euro May Attempt To Resume An Upward Movement

Relevance up to 13:00 2022-06-07 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.

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Technical analysis:

EUR./USD has been trading sideways in last couple of days but I still see further downside movement. There is the breakout of the upper channel in the background. Trading recommendation: Due to the breakout rising channel in the background and the mid and long term down trend I see potential for further downside movement. Watch for potential selling opportunities with the downside objectives at 1.0640 and 1.0540. Confirmation for the downside movement can be if the price breaks the support at 1.0700. Key resistance is set at the price of 1.0775

 

The Euro May Attempt To Resume An Upward Movement

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