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Thursday, June 15, 2017

Will Eur/Usd Recover?

Most of the forex articles that you can find on the internet might suggest Eur/Usd to continue its bearish trend. Market sentiment has indicated bearish trend will still be going deeper and deeper. 

But let's take a look from wider angle here... 

As seen on the chart, on D1 timeframe, Eur/Usd is still in bullish.

Shall Eur/Usd break resistance at around 1.1161, there is a good chance for the pair to continue its movement to reach up to 1.1190. And if Eur/Usd succeed to break above 1.1190 then next target to achieve will be 1.1225. Please refer to the following picture.

Eur/Usd are predicted to enter the yellow range and will try to break two resistance levels.