EURUSD is facing 1.1109 support once again, a breakdown below this level could take price to the key support level at 1.1070. Below this level will confirm that that the uptrend from 1.0569 (Apr 10 low) had completed at 1.1295 already, then the following downward movement could bring price into 1.0800 zone. On the upside, as long as 1.1109 support holds, the fall from 1.1295 could be treated as consolidation of the uptrend, and one more rise towards 1.1450 is still possible after the consolidation.

eurusd 4-hour chart

Source: http://www.forexcycle.com/short-term-forex-analysis/112290-eurusd-daily-analysis-june-21-2017.html

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.