EUR/USD Under Pressure By Recovering U.S Dollar

Published on Monday, 19 June 2017 09:27 ,by  FxGrow Investment Research Desk




EUR/USD inaugurated Monday's trading session with 26-pips loss and 1.1182 low. Currently, U.S Dollar is showing signs of recovery, inching higher with 97.24 high for today.

Technically, the pair is still trading above 20-EMA at 1.1175 which keeps the market in an uptrend destination. Closing above 1.1200 level, suggests for more attacks and the pair will test R1 at 1.1228, then 1.1252. On the other hand, if EUR/USD closed below 20-EMA, expectations for a correction phase within Friday's range at 1.1130+.

Fundamentally, Macron's victory for French Parliament should give a boost for the pair and keeping the trend bullish. In addition to that, President of Deutsche Bank will give a speech today at 3:00 PM GMT, along with FOMC members Dudley at 12:00 PM GMT and Evans at 11:00 PM GMT which will have an impact on both EURO and U.S Dollar depending if its a hawkish or dovish stance. 

Technical Overview:

Trend: Bullish / Sideways

Resistance levels: R1 1.1203, R2 1.1228, R3 1.1252

Support levels: S1 1.1177, S2 1.1160, S3 1.1136

Summary: EUR/USD still remains bullish and rejection for dips at 20-EMA calls for additional attacks at 1.2228 and 1.1252. Closing above 1.1200 is positive. The other scenario, penetration for 1.1177 level will increase selloffs and wash towards 1.1160 and 1.1136. Dips should fight 1.1160 and reject 1.1136 but in case EUR/USD closed below 1.1136, the trend has shifted bearish. 






                                Apply now 














 

visa visa electron mastercard maestro cashu neteller webmoney skrill bankwire
yandex qiwi okpay okpay

AWARDS



ciot expo AWARD 2012 BEST BROKER OF THE YEAR AG BEST BROKER EXECUTION HOUSE 2012 South Africa Forex Expo BEST INTERNATIONAL BROKER SA FOREX EXPO 2012 JFEX JORDAN FOREX EXPO 2012  LOWEST SPREAD/FASTEST EXECUTION
AWARD 2012
BEST BROKER OF THE YEAR
BEST BROKER EXECUTION
HOUSE 2012
BEST INTERNATIONAL BROKER
SA FOREX EXPO 2012
JORDAN FOREX EXPO 2012
LOWEST SPREAD/FASTEST EXECUTION


NEED HELP?

chat LIVE CHAT

FOLLOW US

facebook twitter linkedin google plus

OPEN ACCOUNT

open demo account open live account
* TRADING FOREX AND CFDS IS RISKY
DON'T HAVE AN ACCOUNT YET?
* TRADING FOREX AND CFD IS RISKY
X
 x 

Request a call back

Please fill out and submit the form below and we will call you back

CallBack EN
  1. Name*
    Please provide your First Name
  2. Phone*
    +Invalid Input
    Please Provide Your phone number
  3. Best time to call
    Invalid Input
    xWhat is the best time to call?
    00
    00
    AM

×
RISK WARNING : FOREX and CFDs are high risk leveraged products and can result in the loss of all invested capital. CFDs may not be suitable for all investors. Please read our full Risk Disclosure Statement.
RISK WARNING : FOREX and CFDs are high risk leveraged products and can result in the loss of all invested capital. CFDs may not be suitable for all investors. Please read our full Risk Disclosure Statement.