EURUSD Forecast – $1.20800 – $1.21800 Range

by Jun 5, 2021EURUSD Forecast

With two Pin bars the price could not reach new highs. With the start of a week the price moved higher than last week’s ended, but it has short lasted.

On a third day the price returned back down to a confluence of support and formed another bullish Pin bar.

On Thursday the price broke below through strong support and reached an area around $1.20800.

From there the price returned close to $1.21800, but closed below the resistance line.

EURUSD Daily Forecast 05_06_2021

The best Harmonic scanner

From $24.99 / month

8 Harmonic patterns

9 Standard patterns

Web based platform

Real time notifications 

EURUSD Chart Forecast

The price is below strong resistance that has held the price above for two weeks which means it will need more buyers strength to move again above $1.21800.

The area between $1.20800 and $1.21800 is strong because in the past price had a hard time breaking above $1.21800.

Range area is now holding the price so I am expecting we will see the price inside for a while.

Below $1.20800 first support is around $1.20350 and then $1.20000.

Above we have first resistance at $1.21800 and then around $1.22800.

Entry EURUSD: If you want to see how to play this scenario join G-Trader

If you want to know how much pips EURUSD moves each day in a week or how much it moves on London or New York trading session, you should check this article: EUR/USD Pip Range Analysis

Trading Analysis Bonus

I am sharing trading analysis each week.

It is free and if you want to receive e-mail notification, sign up.

The Forex market is not easily predictable and we need to prepare ourselves for a bullish or bearish scenario. Risk management is crucial in Forex trading so play safe and set stop loss.

“Disclosure: Some of the links in this post are “affiliate links.” This means if you click on the link and purchase the item, I will receive an affiliate commission. This does not cost you anything extra on the usual cost of the product, and may sometimes cost less as I have some affiliate discounts in place I can offer you”

Frano Grgić

Frano Grgić

A Forex trader since 2009. I like to share my knowledge and I like to analyze the markets. My goal is to have a website which will be the first choice for traders and beginners. Market analysis is featured by Forex Factory next to large publications like DailyFX, Bloomberg... GetKnowTrading is becoming recognized among traders as a website with simple and effective market analysis.

Beginners Online Course

Check the best online trading course for beginners

Beginners Online Course

Check the best online trading course for beginners

FREE WORKSHOP

For beginners who does not know how and where to start with trading

In the workshop I will tell you

what steps to do in order 

to transform yourself into a trader

EURUSD Forecast – $1.03920 Still the Target

EURUSD Forecast – $1.03920 Still the Target

EURUSD Analysis TodayPrevious EURUSD forecast talked about $1.03920 as a target and price reached that level on Monday. The strong bearish candle reached demand zone around $1.03820. That move confirmed strong bearish sentiment that has started with two strong bearish...

read more
EURUSD Forecast – $1.03920 Target

EURUSD Forecast – $1.03920 Target

EURUSD Analysis TodayPrevious EURUSD forecast talked about $1.06736 that needs to hold if we want to see the price on higher levels. The price returned to $1.06736 and formed a bullish Pin bar on daily time frame. The price moved higher and reached a $1.07825 supply...

read more
EURUSD Forecast – $1.06736 Support That Needs to Hold

EURUSD Forecast – $1.06736 Support That Needs to Hold

EURUSD Analysis TodayPrevious EURUSD forecast talked about price targeting $1.08300 which is close to the monthly triangle support line. But, the price could not break above $1.07825 resistance level. The price reached $1.07825 resistance and made a retrace back down...

read more

0 Comments

Pin It on Pinterest

Shares
Share This