Intraday Analysis for EURUSD, July 01, 2020

by Jul 1, 2020Setups

EURUSD Outlook

EURUSD Yesterday’s chart analysis

Yesterday’s analysis was pretty close to the scenario that happened on the market. EURUSD has tested the support level around $1.11871.

After testing the support level a nice bullish Pinbar has formed that pushed the price back to the resistance level at $1.12366 and where the price has stalled for the last few days.

After the bullish Pinbar we have a strong bullish candle that has engulfed the previous range of small H4 candles. That move suggests the price could go higher if the price manages to close above $1.12366.

EURUSD Daily Forecast 01_07_2020

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

I am Using in My Analysis

EURUSD Chart Forecast

I am waiting for another strong bullish candle to close above $1.12366 which will confirm bullish Pinbar and bullish engulfing candle. We now have few small indecision candles that will eventually break in some direction.

We have also trend line support that supported the price in yesterday’s trading session. The bullish Pinbar has bounced right on that trend line.

If we take into consideration the falling channel trend line that represents resistance, the price is compressing and it will need to break in some direction. The outlook where the price could break out shows me one direction. To add, we have another time frame that shows us a signal where the price could go.

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

As a bonus I am sending entry ideas.

ONLY for G-Trader members.

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.

“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 

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

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 

0 Comments

Pin It on Pinterest

Shares
Share This