TheBanker
Short

Forex Market Analysis and Trading Tips - 28th June 2016 - EURUSD

FX:EURUSD   Euro Fx/U.S. Dollar
I know a lot have been asking me for my outlook on EUR after last weeks events so instead of getting back to you all individually I thought this idea was the best course of action, do let me know your thoughts and as always your likes are most welcome!

SUMMARY:
The EURUSD             pair bounced slightly during the course of the day on Wednesday, using the 1.1030 level as support. At this point in time, the market is looking bearish . The primary trend of EURUSD             is bearish on charts and price is trading below its support trend line in its 1 hourly chart. In its 1 hourly chart the price is sustaining below 200 day SMA that are appears on the above image indicating downtrend of the pair. It is having an important resistance at the level of 1.1190 and support at the level of 1.1030. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.

INDICATORS:-
MACD is sustaining in its negative territory indicating the bearish trend in the pair.
RSI is sustaining in its selling zone indicating the upcoming negative trend in the pair.

STRATEGY:

EURUSD             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intraday to mid term positions in it.

Thanks for your continued support,

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