On Tuesday, EURUSD remained slightly bullish the pair retraced back on profit taking by Greenback buyers. The US Dollar remained weak despite better than expected Final GDP figure released by USA Bureau of Economic Analysis. Volatility remained thin on the market as investors are still waiting for the currency market to settle from BREXIT sell off.
Today on Wednesday, the investors are recommended to monitor the following events:
EUR
• German Prelim CPI m/m
• Spanish Flash CPI y/y
USD

• Core PCE Price Index m/m
• Personal Spending m/m
• Personal Income m/m
• Pending Home Sales m/m

Technical Overview:

On Wednesday, the pair is still trading below a trend line resistance of 1.1140 and a bearish engulfing candle is representing a sure selling trend in pair. The RSI is coming out of oversold territory and signaling a bit retracement. The pair can retrace back up to 1.1160. It is likely to face resistance at 1.1125, and around 1.1185 while support stands at 1.11, and near 1.090.
Previous Analysis Reference: It is likely to face resistance at 1.1125, and around 1.1185 while support stands at 1.11, and near 1.090. (28th June, 2016)
Daily Trading Range:
1.1250– 1.0845

Daily Support & Resistance Levels

R3: 1.1800
R2: 1.1602
R1: 1.1480
Pivot Point: 1.1281
S1: 1.1083
S2: 1.1096
S3: 1.0762

Trading Recommendation:
– Sell @ 1.1150
o Take Profit:
 1st @ 1. 0900
 2nd @ 1.082
o Stop Loss 1.1225

EURUSD 29th June, 2016

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