Monday 5 June 2017

EUR/USD Bounced Off from 1.1283




Last week EUR/USD gradually moved to the upside despite the rather impressive shooting star candlestick that had formed on the weekly time-frame and the pair eventually formed a new high at 1.1283. It seems that the move to the upside is exhausted for now though, as the pair bounced off from the aforementioned high at 1.1283 and formed a doji candlestick and a shooting star candlestick on the four-hour time-frame before moving to the downside. Currently, the pair is testing the support at 1.1235 and a possible breakout below that level could lead to a further move to the downside towards 1.1160, which coincides with the (MA)89 indicator on the same four-hour time-frame.
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6 comments:

  1. Unknown6 June 2017 at 02:10

    Just some profit taking ahead of ECB.

    ReplyDelete
  2. Unknown6 June 2017 at 11:43

    It's still caught in tight range ahead of ECB meeting.

    ReplyDelete
  3. Unknown6 June 2017 at 12:05

    The bullish trend is still in place.

    ReplyDelete
  4. Unknown11 June 2017 at 18:34

    The pair is back to 1.120 level.

    ReplyDelete
  5. Unknown11 June 2017 at 22:16

    It seems to be losing strength.

    ReplyDelete
  6. Unknown14 June 2017 at 23:47

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