EURUSD – There is No Bulls Nor Bears Strength

by Jun 2, 2020Setups2 comments

Yesterday’s Summary

Yesterday did not give clear situation on the market. Price have stalled on the weekly trend line where trend line acts like a resistance.

Below is previous resistance which now acts as a support line at 1.11091 level.

Between those two levels price is moving up and down. Looking on the candles there is no clear situation. I do not see any strength in bulls or bears.

EURUSD Daily Forecast 02_06_2020

Get Access to the Same “New York Close” Forex Charts

I am Using in My Analysis

Today’s EURUSD Chart Forecast

We need to wait until the price make a move and give us a clear direction.

From this points where the price is right now we should wait for the bulls if they can manage to break weekly trend line and reach resistance at 1.11871. If they can do that we could see price making pullback to weekly trend line and moving further up to 1.12321 level.

Bears have more job to do to regain the strength they had in previous weeks. Their first strong support is at 1.10755 level which must be broken before attacking support at 1.09860.

We need to wait for clear signal and as a first signal would be breaking out from this small range area.

Where the price breakout first, up or down, it could set future direction for the entire week.

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

Trading Analysis

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

“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.

The best Harmonic scanner

From $24.99 / month

8 Harmonic patterns

9 Standard patterns

Web based platform

Real time notifications 


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

Beginners Online Course

Check the best online trading course for beginners

The best Harmonic scanner

From $24.99 / month

8 Harmonic patterns

9 Standard patterns

Web based platform

Real time notifications 


  1. douglas

    Nice analysis. Thanks for this

    • Frano Grgić

      Hi douglas,
      thanks and you are welcome.

Pin It on Pinterest

Share This