empty
 
 
15.06.2022 08:31 AM
Technical Analysis of EUR/USD for June 15, 2022

Technical Market Outlook:

The EUR/USD pair had broken out of the channel and made a new local low at the level of 1.0399, so the WXY complex corrective cycle was extended to the downside, deeper inside the bearish zone. Nevertheless, the correction looks completed now as the bulls continue to move higher. The nearest technical resistance seen at the level of 1.0469 had been broken and the bulls are heading towards the next technical resistance located at 1.0532. Please notice, the extremely oversold market conditions support the short-term bullish outlook for EUR, good enough for a bounce and the technical resistance level test.

This image is no longer relevant

Weekly Pivot Points:

WR3 - 1.0901

WR2 - 1.0839

WR1 - 1.0647

Weekly Pivot - 1.0577

WS1 - 1.0379

WS2 - 1.0301

WS3 - 1.0101

Trading Outlook:

The up trend can be continued towards the next long-term target located at the level of 1.1186 only if the complex corrective structure will terminate soon (above 1.0335). The bullish cycle scenario is confirmed by breakout above the level of 1.0726, otherwise the bears will push the price lower towards the next long-term target at the level of 1.0335 or below.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback