Intraday Analysis for EURUSD, July 14, 2020

by Jul 14, 2020EURUSD Forecast

EURUSD Outlook

EURUSD Yesterday’s chart analysis

The price reached $1.13427 and even higher than that. The push was from the traders who entered into the market yesterday.

Only one bearish candle was seen yesterday and it was engulfing bar. While the engulfing bar formed in the middle of the uptrend channel I did not put too much focus on it. As you can see it was a false bearish engulfing signal without any backup.

Close to uptrend resistance, the price pushed strongly up through the resistance line which gives me an explanation that the buyer’s strength is strong on this level. We could see the price moving higher after this breakout.

EURUSD Daily Forecast 14_07_2020

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

I am Using in My Analysis

EURUSD Chart Forecast

The price did not close below previous resistance and not that level acts as a support. We need to see if it holds.

A pullback from the small resistance level formed and for now we should wait and see what the price does. We can see that the price stopped and one indecision candle formed. Second candle is bearish, for now, and we need what the price will do in the next few trading sessions.

The price could make a nice price action signal on this support or it could get back in the channel below current support level.

If that happens we need to wait the price to make its way up above resistance level at $1.13427.

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 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.

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 – $1.06400 Bulls Target

EURUSD Forecast – $1.06400 Bulls Target

EURUSD Analysis TodayPrevious EURUSD forecast talked about price making a retrace to $1.04700 and the price has done that. The retrace happened pretty quickly. Just in two days the price returned and reached that level. On Tuesday the price made a strong bullish...

read more
EURUSD Forecast – $1.04700 Retrace Target

EURUSD Forecast – $1.04700 Retrace Target

EURUSD Analysis TodayPrevious EURUSD forecast talked about price making a breakout from a range that was held inside for two weeks. The price made a breakout on Wednesday after testing the $1.05825 resistance three times. The same day price formed a bearish pin bar...

read more
EURUSD Forecast – Wait for a Breakout

EURUSD Forecast – Wait for a Breakout

EURUSD Analysis TodayPrevious EURUSD forecast talked about price making a retrace to $1.06736 and the price retraced, but only to $1.06410. It was close to the first target, but there is selling pressure on the upper side that is preventing that. If we check the...

read more

0 Comments

Pin It on Pinterest

Shares
Share This