Analysis and forecasts for EUR / USD 06/16/16

15 Jun 2016

The situation on the eurodolarze changes as the proverbial kaleidoscope. Despite the break on Tuesday Zone support levels and reached a low of 1.1189, falls on the main currency pair not continued. On Wednesday we witnessed the execution of the alternative scenario, which assumed a return to the vicinity 1,1300-30 level. The demand side has received support in the form of a pigeon's FOMC statement. (Demand led to the abolition of the last half of the decline from 1.1416). At the moment Eurodollar hovering around 1.1265, and the very fact of maintaining the exchange rate above 1.1235 might suggest an attack on the last maxima. In this case, demand is a target for area 1,1300-30 and subsequently, the resistance level of 1.1362 and 1.1416. Considering the uncertainty before the referendum in the UK, it seems that the demand side, could take full advantage of his chance. The single currency is under pressure and in my opinion the higher price levels, can be a great opportunity to open short positions. Is today's killing up will be short-lived, it will show the next hours.

(At the moment, the current upward movement can be seen as a correction of recent decline).

Signal pro-trend will be back towards the recent support levels at 1,1213-35. While breaking the 1.1189 level will confirm that the actual killing up was only a correction of the recent declines. In this case, we will go towards support at 1.1144 and 1,1058-80.