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EURUSD Technical Analysis – 20th JUNE, 2024
EURUSD – Bearish Trend Reversal
EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0748 the prices started to decline against the United States Dollar.
We can see the formation of Bearish Trend Reversal pattern with the Adaptive Moving Average AMA20 in the 4-hourly timeframe.
The prices of EURUSD are ranging near the resistance of the channel in the monthly timeframe.
The Ichimoku price is under the cloud in the daily timeframe which also indicates the bearish tendencies present in the markets.
We can also see the formation of the Ichimoku Bearish crossover Tenkan and Kijun in the 1-hourly timeframe.
EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
• Euro Bearish Reversal seen below the 1.0748 mark.
• Short-term range appears to be Mildly Bearish.
• EURUSD continues to remain above the 1.0700 levels.
• Average true range ATR is indicating less market volatility.
The next support is located at 1.0705 which is a Price 2 Standard Deviations Support.
EURUSD is now trading below its Pivot levels of 1.0728 and is moving into a Mild Bearish channel.
The price of EURUSD remains above its Classic support levels of 1.0706 and is moving towards its next target of 1.0699 which is a Pivot Point 3rd Support Point.
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check FXOpen Blog
EURUSD – Bearish Trend Reversal
EURUSD was unable to sustain its bullish momentum and after touching a high of 1.0748 the prices started to decline against the United States Dollar.
We can see the formation of Bearish Trend Reversal pattern with the Adaptive Moving Average AMA20 in the 4-hourly timeframe.
The prices of EURUSD are ranging near the resistance of the channel in the monthly timeframe.
The Ichimoku price is under the cloud in the daily timeframe which also indicates the bearish tendencies present in the markets.
We can also see the formation of the Ichimoku Bearish crossover Tenkan and Kijun in the 1-hourly timeframe.
EURUSD is now trading below its 100-hour SMA and 200-hour SMA simple moving averages.
• Euro Bearish Reversal seen below the 1.0748 mark.
• Short-term range appears to be Mildly Bearish.
• EURUSD continues to remain above the 1.0700 levels.
• Average true range ATR is indicating less market volatility.
The next support is located at 1.0705 which is a Price 2 Standard Deviations Support.
EURUSD is now trading below its Pivot levels of 1.0728 and is moving into a Mild Bearish channel.
The price of EURUSD remains above its Classic support levels of 1.0706 and is moving towards its next target of 1.0699 which is a Pivot Point 3rd Support Point.
Disclaimer: This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.
For in-depth analysis, please check FXOpen Blog
