On Monday , the EURUSD traded sideways against the Greenback before major event Brexit on 23rd June. The pair traded in a daily range of 80 pips with a high of 1.1382 and a low of 1.1301. Investors are recommended to monitor President Draghi Speaks as well as Fed Chair Yellen Testifies due on Tuesday.
On Tuesday, the investors are recommended to monitor the following events:
• German Constitutional Court Ruling (EUR)
• German ZEW Economic Sentiment (EUR)
• ZEW Economic Sentiment (EUR)
• ECB President Draghi Speaks (EUR)
• Fed Chair Yellen Testifies (USD)
• FOMC Member Powell Speaks (USD)

Technical Overview:

EURUSD trades at 1.1310, just above a trend line support level at 1.1190. On Tuesday, the EURUSD support prevails at 1.1250 and at 1.1210 with resistance at 1.1375, 1.1425. The oscillator indicator RSI is indicating potential neutral behavior of the pair.
Previous Analysis Reference: The pair is still in the weak, rising trend channel, with resistance found at 1.1285, at 1.13, and at 1.1375. Support stand at 1.1225, at 1.1185, and around 1.1100. (20th June, 2016)

Daily Trading Range:

1.1375– 1.1225

Daily Support & Resistance Levels
R3: 1.1337
R2: 1.1309
R1: 1.1291
Pivot Point: 1.1263
S1: 1.1235
S2: 1.1217
S3: 1.1189

Trading Recommendation:
– Sell below 1.1400
o Take Profit:
 1st @ 1. 1275
o Stop Loss 1.1445


4 thoughts on “EURUSD Daily Market Updates (21th June, 2016)”

  1. callahan says:

    Nice. I actually got fortunate and shorted WM4 so hope it rides the 4hr 5 all the way down.

  2. Jackie Mullin says:

    Thank you for posting your views. I find them very helpful in extending my education.

    1. @Jackie Mullin Thanks for your feedback, i really appreciate it. Keep following

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