The EUR/USD is at the important level and we might see either a bounce or break below. Ranging markets conditions still prevail.
The EUR/USD has been trapped within the range as 1.1200 zone still resists. We have the important zone within 1.1200 and at this point we might see a push to the upside or a break below. If the market breaks 1.1200, next is 1.1188 followed by 1.1168. Below 1.1168 a stronger momentum down is expected towards 1.1118. Above 1.1200, 1.1227 is next followed by 1.1240 and 1.1267. Only above 1.1267 we should see 1.1316 again.
The Analysis has been done with the CAMMACD.Core and Sit Systems
For a look at all of today’s economic events, check out our economic calendar
This article was originally posted on FX Empire
More From FXEMPIRE:
- Q2 Set to End on Risk-On Note
- USD/JPY Fundamental Daily Forecast – Fed’s Powell Says Outlook for Economy is “Extraordinarily Uncertain”
- Shell Impairments Support Bearish Market
- E-mini NASDAQ-100 Index (NQ) Futures Technical Analysis – Underpinned by Fed Stimulus Hopes
- Europe set for a positive start, as Q2 draws to a close
- U.S. Dollar Index (DX) Futures Technical Analysis – Trade Through 97.700 Changes Main Trend to Up