Market Cap:
$274.7B
BTC Dominance:
64.98%
btc:
$9966.00
eth:
$211.29
xrp:
$0.31
Advertise
Forex

EURUSD price analysis - Euro breaks above 1.14

Squared Direct | Jun. 25, 2019
EURUSD price analysis - Euro breaks above 1.14

June 25, 2019, | SQUARED DIRECT - The Euro closed higher for the 4th consecutive day yesterday after improved German IFO surveys boosted the single currency against the greenback. Traders turned more bullish just ahead of today’s Powell’s speech.

It is worth noting that the Fed removed the word “patient” from its forward guidance last week, setting the stage for a rate cut either in July or sometime in Q3-Q4. Market participants will take cues from today’s US housing data and consumer confidence, if the data misses expectations, it could give the Fed more reasons to cut as soon as July.

EURUSD price technical analysis

The EURUSD price broke above 1.14 for the first time since March, as the single currency bulls are buckling up for a big potential upside move. If 1.14 holds, then we will likely see a push towards 1.1440 in today’s session. However, EURUSD price may pull back towards 1.1370 before continuing its upward move. The bears, on the other hand, need to break back below 1.1340 to stop this current bullish momentum.

Support: 1.14 / 1.1370
Resistance: 1.1440 / 1.1480

Chart (H4)

Disclaimer

Trading in Forex and Contracts for Difference (CFDs), which are leveraged products, is highly speculative and involves a high level of risk. Therefore, Forex and CFDs may not be suitable for all investors because it is possible to lose all invested capital. Only invest with money you can afford to lose. Before deciding to trade, you need to ensure that you understand the risks involved. Seek independent advice if necessary. Please refer to our Risk Disclaimer.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.