EURUSD Forecast June 9, 2014, Technical Analysis
The EURUSD pair fell during the course of the session on Friday after the nonfarm payroll numbers came out.
The EURUSD pair fell during the course of the session on Friday after the nonfarm payroll numbers came out.
EURUSD moved sideways in a narrow range between 1.3586 and 1.3668.
EURUSD is currently finding support at the bottom of the rising channel on the daily time frame while stochastic is indicating deeply oversold conditions.
The EURUSD pair fell during the session on Wednesday, breaking below the 1.36 level towards the end of the day.
The EURUSD (FXE, quote) pair fell during most of the session on Tuesday, but found the 1.36 level supportive yet again. Because of this, it appears that the market is ready to grind sideways, as this area although supportive, isn’t necessarily a major support area.
After two days of European Central Bank (ECB) President Mario Draghi comments the EURUSD remains weighted down.
The EURUSD pair fell during the bulk of the session on Wednesday, with that, we feel that the market forming the hammer at this point suggests that the 1.37 level will certainly continue to offer support, and as a result we feel that we could very well break higher.
The EURUSD pair fell during the bulk of the session on Wednesday, with that, we feel that the market forming the hammer at this point suggests that the 1.37 level will certainly continue to offer support,
EURUSD’s downward movement from 1.3993 had completed at 1.3648 already, and the pair is now in uptrend.
The EURUSD pair initially tried to rally, but Wednesday action sell the market fall down to the 1.37 level.