EURUSD technical analysis and what I am watching next

June 9, 2024
-FCHFX

June 09, 2024 at 10:13PM
Euro/USD technical analysis: Video for currency investors and traders

Potential Bull Flag Formation 🏳️

Second touch point on June 3rd 📅

Potential breakout identified but not confirmed yet 🚩

Job Report Impact 📉

Tight stop hit after the job report release on Friday 📊

Importance of maintaining stops due to new market events 🛑

Daily Time Frame Strategy 🕒

Two bullish daily candles needed for better confirmation 📈

Early entry attempts carry higher risks but potential for greater rewards ⚖️

Support and Resistance Levels 📉📈

Double support around 1.0769 📉

Anchor VWAP from April 16 low 📊

EMA level at 1.0835 on the daily chart as potential retracement point 📏

Market Sentiment and Technical Junctions 📊

Watch for shorts covering and new longs entering around key support levels 👀

Potential retracement to mid-channel or lower deviation of VWAP 📉

Bearish Indicators and Fundamental Factors 📉

Current outlook appears bearish 🚨

Political factors, such as EU elections, may influence market sentiment 🗳️

Long-Term Buy Opportunities 💰

Possible buy zone if price reaches lower part of the channel 📉

Strategic buys above October 2023 low for potential long-term gains 📈

Risk Management ⚠️

Always use stops and manage trades carefully 🛡️

Follow reputable sources like forexlive.com for additional insights 🌐

Trade wisely and manage your risk effectively! 🚀

This article was written by Itai Levitan at www.forexlive.com.

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Payment services for HUBFX UK and US are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) and The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorized in 39 states to transmit money (MSB Registration Number: 31000160311064). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011

Payment services for HUBFX are provided by The Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money (FRN: 900199) and The Currency Cloud Inc. which operates in partnership with Community Federal Savings Bank (CFSB) to facilitate payments in all 50 states in the US. CFSB is registered with the Federal Deposit Insurance Corporation (FDIC Certificate# 57129). The Currency Cloud Inc is registered with FinCEN and authorized in 39 states to transmit money (MSB Registration Number: 31000160311064). Registered Office: 104 5th Avenue, 20th Floor, New York , NY 10011 and CurrencyCloud B.V.. Registered in the Netherlands No. 72186178. Registered Office: Nieuwezijds Voorburgwal 296 – 298, Mindspace Nieuwezijds Office 001 Amsterdam. CurrencyCloud B.V. is authorised by the DNB under the Wet op het financieel toezicht to carry out the business of a electronic-money institution (Relation Number: R142701)

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