Technical analysis of EUR/USD for 27/06/2019:

Technical Overview:

The EUR/USD pair has moved down to test the technical support located at the level of 1.1347 due to the overbought market conditions and weaker than before momentum oscillator. There is still a chance for a move up if the support holds but if it will not, then the next support is seen at the level of 1.1268. So far the bounce high was made at the level of 1.1390 and the volatility is very low.

Weekly Pivot Points:

WR3 - 1.1662

WR2 - 1.1520

WR1 - 1.1459

Weekly Pivot - 1.1309

WS1 - 1.1258

WS2 - 1.1120

WS3 - 1.1064

Trading Recommendations:

The current move up might the beginning of a larger impulsive breakout, so only the buy orders should be opened. The best strategy for this market is to open the buy orders during the local pull-back or larger corrections.

analytics5d1407fb99406.jpg

The material has been provided by InstaForex Company - www.instaforex.com