Intraday Analysis for EURUSD, June 25, 2020

by Jun 25, 2020Setups

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EURUSD Outlook

EURUSD Yesterday’s chart analysis

After the yesterday’s analysis, EURUSD has made retrace to $1.12806. On that support level we had a bullish Pinbar that was indicating the price could move further up. But, the price did not move up and instead it moved down.

Two strong bearish candles have move the price below $1.12806 level and currently is very near second support level at $1.12366. In the previous day’s this support level was holding price above, so we can expect it will do the same. It is also the level at which the price have breakout from the wedge pattern.

EURUSD Daily Forecast 25_06_2020

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EURUSD Chart Forecast

While the price could not manage to continue move up after the breakout it could be that this is a retrace before trying to break above $1.13427.

Bulls need to find some support where they can try to make its way up. Current support $1.12366 could be the place where the price will stall. On that level we should wait to see what happens.

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If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis

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The market is not easily predictable and we need to prepare our self for bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss.

Frano Grgić

Frano Grgić

A Forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners. Market analysis is featured by Forex Factory next to large publications like DailyFX, Bloomberg... GetKnowTrading is becoming recognized among traders as a website with simple and effective market analysis.


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