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Trend analysis of the EURUSD for 12/06/19
EURUSD
On the 4-hour chart:
The pair had decreased by more than 150 pips after the sharp growth on Friday. The price broke the support line of the upward tendency. Within, the trend line 0 had been broken. But after that the pair arrived inside the trade channel. The Moving Averages checked the correction with the decline of the growing speed. At the moment the lines are upward directed. The price fluctuates along the trend line 0.
On the 1-hour chart:
The price was declining for the whole day excluding the first hour and last hours of the day on Monday. The support line of the upward tendency had been broken during the decrease. As well, the price lowered under the trend line. However, the pair arrived inside the trade channel today. The Moving Averages gave the bearish signal; however, it expects the opposite signal later. At the moment the price places near the resistance level 1.2610. As well, it c=should be noted the formation of the support line 3.
On the 15-minute chart:
The pair trades inside the upward corridor between the support line 1 and the resistance line 2 and higher the trend line 0. The price increased higher the level 1.2610. If the pair could remain inside the upward channel and could confirm the level 1.2610 as a support, the growth will remain. The level 1.2633 will be the first target and the level 1.2657 will be the second target. If the price will arrive under the trend line 0, the decrease will reach the possibility to continue.
By MasterForex Company
EURUSD
On the 4-hour chart:
The pair had decreased by more than 150 pips after the sharp growth on Friday. The price broke the support line of the upward tendency. Within, the trend line 0 had been broken. But after that the pair arrived inside the trade channel. The Moving Averages checked the correction with the decline of the growing speed. At the moment the lines are upward directed. The price fluctuates along the trend line 0.
On the 1-hour chart:
The price was declining for the whole day excluding the first hour and last hours of the day on Monday. The support line of the upward tendency had been broken during the decrease. As well, the price lowered under the trend line. However, the pair arrived inside the trade channel today. The Moving Averages gave the bearish signal; however, it expects the opposite signal later. At the moment the price places near the resistance level 1.2610. As well, it c=should be noted the formation of the support line 3.
On the 15-minute chart:
The pair trades inside the upward corridor between the support line 1 and the resistance line 2 and higher the trend line 0. The price increased higher the level 1.2610. If the pair could remain inside the upward channel and could confirm the level 1.2610 as a support, the growth will remain. The level 1.2633 will be the first target and the level 1.2657 will be the second target. If the price will arrive under the trend line 0, the decrease will reach the possibility to continue.
By MasterForex Company