Saturday, June 3, 2023

EUR/USD: Bear Market Zone |


At the time of publication of this article, the pair is traded near the 1.1856 mark, through which an important short-term support/resistance level passes. EUR/USD is in the bear market zone, and the breakdown of the short-term support level of 1.1832 will be a signal for the pair to resume selling.

In the alternative scenario and after consolidation in the zone above the level of 1.1856, further corrective growth to the resistance level 1.1930 should be expected.

The growth of EUR/USD into the zone above the resistance levels of 1.1968, 1.1980 will become a confirmation signal for the resumption of long positions.

At least, the technical indicators OsMA and Stochastic on the 1-hour, daily charts signal the likelihood of just such a scenario, and distant growth targets are located at resistance levels 1.2260, 1.2340, 1.2450, 1.2500, 1.2580 (Fibonacci level 61.8%), 1.2600.

Trading Recommendations

Sell ​​Stop 1.1830. Stop-Loss 1.1875. Take-Profit 1.1800, 1.1780, 1.1710, 1.1610
Buy Stop 1.1875. Stop-Loss 1.1830. Take-Profit 11.1930, 1.1968, 1.1980, 1.2065, 1.2180, 1.2260, 1.2340, 1.2450, 1.2580, 1.2600

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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