EURUSD Daily Forecast Jun 12 2017

EURUSD Pulls Back With Caution!


EURUSD Pulls Back With Caution!

Outlook in EURUSD has turned neutral at the moment, the pair remains in a pullback mode as long as trades below the 1.1284 levels on a daily closing basis, and further down could be seen in EURUSD.

Immediate support comes at the 1.1161 levels, a halt is likely and buyers may return from here, however; a cut through that level will extend the corrective pullback to the 1.1095 levels, with a break below here opening the way to the 1.1021 levels…

On the upside, immediate resistance comes at the 1.1230 levels ahead of the 1.1286 levels (main), a breakthrough that level will restore the upside momentum and pave the way to the 1.1365/1.1427 levels, further upside, resistance stands at the 1.1535 levels ahead of the 1.1615 levels…

Conclusion: The EURUSD continues to face corrective threats below the 1.1284 levels in the short term forecast…

Note: sustained breakout (4-hour) closing above the 1.1230 levels should weaken recent pullback and may bring a sudden rise beyond the 1.1284 levels…

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