EURUSD Weekly Analysis – June 7, 2015
EURUSD stays in the upward price channel on daily chart, and remains in short term uptrend from 1.0462.
EURUSD stays in the upward price channel on daily chart, and remains in short term uptrend from 1.0462.
The EURUSD pair went back and forth during the course of the session on Monday, as we continue to bounce around the 1.10 level.
The EURUSD pair initially fell during the course of the day on Wednesday, but below the 1.11 level we found a bit of support.
The EURUSD pair went back and forth during the course of the session on Friday, as we continue to hang about the 1.09 level.
EURUSD stays in the downward price channel on daily chart, and remains in downtrend from 1.3993 (May 8, 2014 high), the rise from 1.0462
EURUSD is in consolidation of the downtrend from 1.2569 (Dec 16, 2014 high). Range trading between 1.1097 and 1.1650 is possible over the next several days.
The EUR/USD pair initially tried to fall during the course of the day on Monday, but found enough support at the 1.13 level to bounce and form a little bit of a hammer.
The EURUSD pair fell during the course of the session on Friday, as the nonfarm payroll numbers came out much stronger than anticipated.
The EURUSD pair fell during the course of the day on Wednesday as the market continues to look soft for the Euro in general.
EURUSD remains in downtrend from 1.2569, the rise from 1.1459 is likely consolidation of the downtrend.