EURUSD Daily Forecast Jun 09 2017

EURUSD Consolidates With Upside Bias!

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EURUSD Consolidates With Upside Bias!

Outlook in EURUSD has turned neutral at the moment, support comes at the 1.1200 levels while resistance comes at the 1.1284 levels.

On the upside, the EURUSD will have to break and hold above the 1.1284 levels to push the market for further upside gains, If seen, it will target the 1.1365 levels, a halt is likely and a reversal may occur, however; a break through the 1.1365 levels will turn the focus on the 1.1427 levels…

Alternatively, a failure to hold above the 1.1284 levels on a daily closing basis could mean a return to the 1.1200 levels, a halt is very likely and buyers are likely to return from here, however; a cut through that level should weaken recent rise and turn the focus to the downside towards the 1.1161/1.1095 levels, further down, support stands at the 1.1021 levels…

Conclusion: The EURUSD continues to face upside threats above 1.1200 levels…

Notes:

1- Stability above 1.1200 levels on a daily closing basis may bring a sudden rise above 1.1284 levels…

2-Minor resistance comes at the 1.1230, a 4 hour closing above that level will turn the focus on the 1.1284 levels…

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