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EUR/USD: Technical Analysis | 18th June, 2020
tanvirfx

Member Since Sep 11, 2015  3 posts Tanvirul Islam (tanvirfx) Jun 18 at 12:36
Although the U.S. housing data did not improve as expected, the U.S. dollar index maintained its position above the 97.00 handle. The pair’s candlestick has dropped to support level 1.1221 after failing to reach 1.13 in a H4 timeframe, which has previously served as Quasimodo resistance. This level is associated with 1.12 and 38.2% Fibonacci retracement ratio 1.1173.

A technical review of the weekly timeframe shows that buyers and sellers are struggling to capture their position at the 2020 opening level of 1.1222. In this case, a long-term trend line resistance starting from a high of 1.2555 is preventing the price from going up. Strong buying may cross the above-mentioned trend line resistance and take the price to 2019’s opening level 1.1445, where if it goes below 1.1222, we will get the 2018’s opening level 1.0873 as support.

Buyers and sellers are fighting to occupy their position between resistance in the daily timeframe 1.1349, which is associated with channel resistance starting from a high of 1.1147 and support 1.1239. If this support level breaks, the 200-day SMA (orange – 1.1024) will open, which has started to rise in recent times after a few months of a downtrend. Full Analysis - https://www.en.marketdeal24.com/eur-usd-technical-analysis-18th-june-2020/
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alexforex007

Member Since Oct 11, 2013  773 posts alexforex007 Jun 26 at 01:31
A bullish flag on the EURUSD may be forming on the daily chart, but the flag will only be confirmed if the price breaks above the 1.1400 level. At the moment, the 1.1200 level is acting as support.

Gerson87trader

Member Since Jul 09, 2020  1 posts Gerson87trader Jul 10 at 00:50
Boa análise, bem notado. I am from Brazil.

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EURUSD 1.13683 GBPUSD 1.26007
USDJPY 107.222 USDCAD 1.35682

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