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EURUSD Technical analysis 20 June 2018

2018-06-20 05:18 am | Resource: Technical Analysis | No Views : 99

Time frame Used - four hours
The EURUSD is moving in a sideway direction in the near term
The selling force managed to push the EURUSD to violated level of 1.1725 downside to level of 1.1545, trying to consolidate above this level to bounce back again but still faces resistance around level of  1.1647
In view of the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery
  Accordingly, we expect that  the EURUSD will  target level of  1.1725 again
  The alternative scenario is that  the EURUSD break level of  1.1545 below to target levels of 1.1367-1.1258
   Resistance: 1.1647 - 1.1725 - 1.1830
Support: 1.15006 - 1.1367 - 1.1258
Direction: sideway
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