Intraday Analysis for EURUSD, June 29, 2020

by Jun 27, 2020Setups

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EURUSD Outlook

EURUSD Yesterday’s chart analysis

EURUSD yesterday did not do anything clear that would guide us in some way. Looking at the daily time frame we can see indecision candle. It means the price did not find its way in any direction.

In the H4 time frame we can see the price has done some bouncing between two levels as mentioned in the yesterday’s analysis.

Large wicks on the candles where we have one bullish Pinbar candle tells us that the current area around $1.11871 is filled with buyers that are defending the support area. 

EURUSD Daily Forecast 27_06_2020

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EURUSD Chart Forecast

Friday did not give us any clear signal which we could use for further trading decision. With daily indecision candle and without clear signal on the H4 time frame we are left to wait and see what will happen on Monday.

The price has closed in the middle of H4 candles which means there is no clear strength from buyers or sellers.

How to play this scenario on Monday?

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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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