Intraday Analysis for EURUSD, June 24, 2020

by Jun 24, 2020Setups

EURUSD Outlook

EURUSD Yesterday’s chart analysis

EURUSD after the breakout from the wedge pattern reached first strong resistance at $1.13427. Yesterday’s two strong bullish candles have drive the price very fast to the resistance level which indicates strong bullish momentum after the breakout.

$1.13427 level is now confluence level of uptrend resistance line and horizontal resistance line.

When the price reached the confluence level it pulled back to the first small support at $1.13049.

The confluence level is a strong resistance area which has stopped the price on June 16 and on June 5. Each time the price have pulled back so it was possible that the price do the same thing. For now, the price have pulled back, but very little. Only to the first small support at $1.13049.

If you read closely then you can translate this behaviour as a bullish power that do not allow the price to make a strong pullback.

EURUSD Daily Forecast 24_06_2020

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

I am Using in My Analysis

EURUSD Chart Forecast

With a strong bullish momentum after the breakout from the wedge pattern I am expecting the price to move further up. The current confluence of resistance will be hard to break, but it will happen eventually.

The price is currently in the indecision which is shown through candles that have formed on the small support level. What the price will do, we need to wait and see what will happen.

My direction is still bullish until the price is above $1.12366 level. Whenever the price make a pullback to support level I am watching to make a buy when the clean price signal appears.

If you have entered into the trade from the yesterday’s analysis and from the entry signals I have sent through G-Trader member list, then you have reached the first profit target.

Today I am watching how the market will behave and where to enter. There are certain area where the possible signal can appear and where it would be nice to enter.

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.

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