Short-term analysis on EURUSD

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June 6, 2017
Τα διαχωριστικά όρια της διόρθωσης με την πτωτική αγορά
June 6, 2017

EURUSD despite making a new high on Friday after the NFP numbers announced, price is stalling around the previous highs area and this is not a promising sign for bulls. On the contrary I believe bulls should be very cautious as a break below 1.1220-1.12 will be a rejection sign that could push the pair back below 1.11.

1.1230-1.1220 first short-term support. Medium term support at 1.12. 1.1170 Kumo(cloud) support in the 4 hour chart and most important level for me. If you want to be a buyer, buy on a pull back as the trend remains bullish targeting 1.1350. No reversal confirmation yet.

 

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.