empty
 
 
19.06.2024 05:34 AM
Forecast for EUR/USD on June 19, 2024

EUR/USD

Yesterday, EUR/USD repeated the same pattern it showed on Monday, albeit in a weaker manner: in the face of muted growth in stock indexes and commodities, the European currencies edged slightly higher. The Australian dollar led gains by rising 42 pips. The euro had a volatile day but it still managed to close the day up 6 pips. The price failed to overcome the resistance of the daily balance indicator line.

This image is no longer relevant

The Marlin oscillator is slightly turning around. The price may likely return below the level of 1.0724, where it closed yesterday. Breaking below yesterday's low of 1.0710 paves the way for the price to reach the bearish target of 1.0636, the May 2023 low.

This image is no longer relevant

On the 4-hour chart, as expected, the MACD line stopped the euro from correcting higher. If the price manages to settle above this line (1.0752), it may even rise to 1.0788. However, the current situation suggests that the price may consolidate below 1.0724 and continue its descent towards 1.0636.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback