• Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
Digital Skill Institute
  • Home
  • Courses
  • Become An Instructor
  • Blog
  • Shop
      • Login

    EUR/USD

    • Home
    • Blog
    • EUR/USD
    • EURUSD Price Increase Is Possible as Double Bottom Chart Pattern Emerges

    EURUSD Price Increase Is Possible as Double Bottom Chart Pattern Emerges

    • Posted by DigitalLeonard
    • Categories EUR/USD, EURUSD, Marketing, Technical Analysis, Trade Ideas, Trading Briefs
    • Date June 20, 2022
    • Comments 0 comment

    [ad_1]

    EURUSD Price Analysis – June 20

    In case the bears break down the support level of $1.04, the price may reach support levels of $1.02 and $1.01. Should the buyers defend the support level of $1.04, the price may increase above the resistance level of $1.06, then, price may increase to test the resistance level of $1.07, which may extend to $1.09 level.

    EUR/USD Market

    Key Levels:

    Resistance levels: $1.06, $1.07, $1.09

    Support levels: $1.04, $1.02, $1.01

    EURUSD Long-term Trend: Bearish

    EURUSD is bearish on the long term outlook. The price action formed a bullish reversal chart pattern called double bottom. The first touch was on May 12, the price bounced up to test the resistance level of $1.07. The price reverse at the just mentioned level and turned to south. Last week, the previous low of $1.02 was tested last week. There is tendency for the price to commence a bullish trend.

    EURUSD continues trading below the 9 periods EMA and the 21 periods EMA at close contact. In case the bears break down the support level of $1.04, the price may reach support levels of $1.02 and $1.01. Should the buyers defend the support level of $1.04, the price may increase above the resistance level of $1.06, then, price may increase to test the resistance level of $1.07, which may extend to $1.09 level. The Relative Strength Index period 14 is found at 44 levels with the signal line pointing up to indicate a buy signal.

    EURUSD medium-term Trend: Bullish

    EURUSD is bullish in the medium-term outlook. The currency pair has formed a bullish reversal pattern called triple bottom on 4-hour chart. The bulls are gaining strength gradually to dominate the market. Retracement was carried out last week to the support level of $1.04. At the moment, it is increasing targeting resistance level of $1.06.

    The price is trading above the 9 periods EMA and 21 periods EMA, the two EMAs are separated from each other as a sign of high momentum in the market. Relative Strength Index period 14 is pointing up at 55 levels which indicate a buy signal.

    Share with other traders!

    [ad_2]

    Source link

    • Share:
    author avatar
    DigitalLeonard

    Previous post

    DeFC is Accumulating before likely Bullish Run
    June 20, 2022

    Next post

    Nigeria Ranked Among Highest Bitcoin Volume Providers Despite CBN Restrictions
    June 21, 2022

    You may also like

    EURCHF-1Day.png
    EURCHF Bears Successfully Led the Market Into the Demand Zone
    26 July, 2022
    DOTUSD_2022-07-22_09-45-20.png
    Polkadot Resumes Downward Correction as Buyers Fail To Keep Prices above $8 High
    23 July, 2022
    LTCUSDDaily-Chart.png
    Litecoin Risks Decline as It Struggles Below the $59 High
    20 July, 2022

    Leave A Reply Cancel reply

    Your email address will not be published. Required fields are marked *

    Search

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    Crypto Trading Mastery: Buy, Sell, Trade Cryptocurrency for Profit

    ₦60,000.00 ₦25,000.00
    Step By Step Website Design Tutorial For Beginners

    Step By Step Website Design Tutorial For Beginners

    ₦10,000.00
    How To Create A Professional Website Without Coding

    How To Create A Professional Website Without Coding

    ₦150,000.00 ₦5,500.00
    Digital Marketing Institute Logo
    +2348165842119
    support@digitalleonard.com
    Facebook-f Twitter Google-plus-g Pinterest

    Company

    • About Us
    • Blog
    • Become An Instructor
    • Contact

    Links

    • Courses
    • Events
    • Gallery
    • FAQs

    Support

    • Join Our YouTube Channel
    • Telegram Forum
    • Facebook

    Recommend

    • BINANCE
    • BYBIT
    • HUOBI
    • KUCOIN
    • OKEX
    • BITGET

    Digital Skill Institute By DigitalLeonard.Com Powered by Digital Leonard.

    • Privacy
    • Terms
    • Sitemap
    • Contact

    Login with your site account

    Lost your password?