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Trading Signal for EUR/USD for June 29 - 30, 2021: Sell below 1.1930


In a 4-hour chart, the EUR / USD pair is trading below the SMA of 21 and below the strong resistance of 4/8 of murray located at 1.1962. The euro is following the bearish bias and could have a drop to 2/8 Murray located at 1.1840 in the short term.

The US dollar index (#USDX) remains above the SMA of 21 in a daily chart. At the moment, it is trading at 92.06, with a bullish bias. It means that in the medium term, the dollar could continue to climb up to the zone of 92.96 or a reversal zone of 7/8 of murray.

That would mean that the euro could fall to the 1.18 zone and lower to 1.17. Besides, let's not forget that the Euro has left a GAP in the 1.21 zone, which means that there is a possibility that it could cover this GAP and fall steadily in the long term.

This week, the market is alert to the NFP data that could give the market some volatility. If the data is negative for the US dollar, the Euro could return to trading in the 1.1962 zone.

In the chart, you can see that the Euro is trading below 1.1930. This level is the key below this zone. The downward pressure will continue to weaken EUR / USD and a drop is expected to 1.1880 and 1.1840.

In the event of a recovery to the 1.1930 area, the selling pressure will ease and we would expect a bullish move towards the resistance zone of 1.1962 and further up to the psychological level of 1.20.

Our recommendation is to sell below 1.1930 while the pair is trading below this level. We believe there will be strong downward pressure with targets at about 1.1880 and 1.1840.

Support and Resistance Levels for June 29 - 30, 2021

Resistance (3) 1.1984

Resistance (2) 1.1964

Resistance (1) 1.1942


Support (1) 1.1877

Support (2) 1.1857

Support (3) 1.1790


Trading Tip for EUR/USD for June 29 - 30, 2021

Sell in case of a pullback towards 1.1930, or sell below 1.1930 (SMA 21) with take profit at 1.18880 and 1.1840 (2/8), stop loss above 1.1962.

The material has been provided by InstaForex Company -