empty
 
 
12.06.2019 05:07 PM
Technical analysis of EURUSD for June 13, 2019

EURUSD is not making any important move this far today. Price is consolidating near its recent highs above 1.1320. Trend remains bullish and longer-term target is at 1.17, the start of the falling wedge, as long as price holds above 1.1250.

This image is no longer relevant

Red lines - bullish wedge pattern

Green rectangle -support area

EURUSD has broken the downward sloping wedge pattern. Price could back test once again the breakout area around 1.1250 but bulls do not want to see a weekly close below 1.1250. Bulls want to see price consolidate and move higher or make a higher low around 1.1250-1.1270 before resuming higher. There are no bearish divergence signals in the Daily chart but only in the 4 hour. So we could see some weakness and a shallow pull back until Friday.

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 $8000 more!
    In March we raffle $8000 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