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FxGrow Daily Technical Analysis – 6th June, 2017
By FxGrow Research & Analysis Team
EUR/USD Remains Bullish Despite the Correction Phase
EUR/USD fails for the second trading session this week to overpass 1.1285 (Friday's highs), with yesterday’s peek up to 1.1283, and today 1.1277. The pair is confined with Friday’s bullish candle shadow which holds further correction mood amid at 1.1220 (S2).
But overall, EUR/USD is still trading above its 15-EMA at 1.1177, which keeps bullish forces intact and withhold further potential attacks taking into consideration yesterday’s U.S negative data, pushing the greenback lower as the Index plunged today to 96.47 2017-fresh lows.
Fundamentally, Trump with his relentless effort favoring lower U.S Dollar and last week’s rumors about ECB potentially removing QE program fueled EURO but rumors will be tested this ...
For more in depth Research & Analysis please visit FxGrow.https://goo.gl/yVHoKm
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
By FxGrow Research & Analysis Team
EUR/USD Remains Bullish Despite the Correction Phase
EUR/USD fails for the second trading session this week to overpass 1.1285 (Friday's highs), with yesterday’s peek up to 1.1283, and today 1.1277. The pair is confined with Friday’s bullish candle shadow which holds further correction mood amid at 1.1220 (S2).
But overall, EUR/USD is still trading above its 15-EMA at 1.1177, which keeps bullish forces intact and withhold further potential attacks taking into consideration yesterday’s U.S negative data, pushing the greenback lower as the Index plunged today to 96.47 2017-fresh lows.
Fundamentally, Trump with his relentless effort favoring lower U.S Dollar and last week’s rumors about ECB potentially removing QE program fueled EURO but rumors will be tested this ...
For more in depth Research & Analysis please visit FxGrow.https://goo.gl/yVHoKm
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.