EURUSD recovered from the losses and remained bullish on Wednesday.The pair trades at 1.1301 adding almost 54 pips to an opening price 1.1249. Volatility remained low on Wednesday, a day before major event BREXIT. As suggested earlier, Investors focus is on major event UK referendum Brexit due today on 23rd June.
Cautions: Market is likely to be very volatile today, we can expect GAP, soared price and even reversals. Further, we can also experience a sudden increase in spreads and margins.
On Thursday, the investors are recommended to monitor the following events:
• French Flash Manufacturing PMI
• French Flash Services PMI
• German Flash Manufacturing PMI
• German Flash Services PMI
• Flash Manufacturing PMI
• Flash Services PMI
• Unemployment Claims
Technically, EURUSD consolidate below a suggested resistance level of 1.1318. Broke below a suggested support level of 1.1250 can lead the market to initial target level of 1.1210 and even 1.1145. On Thursday, the EURUSD support prevails at 1.1210 with resistance at 1.1318 and 1.1375. The oscillator indicator RSI is indicating the potential selling behavior of the pair.
Previous Analysis Reference: The suggested trade gave 90+ pips, but didn’t hit the suggested take profit level (22nd June, 2016)
Daily Trading Range:
Daily Support & Resistance Levels
Pivot Point: 1.1263
– Sell below 1.1225
o Take Profit:
1st @ 1. 1145
o Stop Loss 1.1280