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Wave Analysis from InstaForex
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[QUOTE="InstaForex Gertrude, post: 18665, member: 2617"] [B]Technical Analysis of EUR/USD for June 2, 2020:[/B] [IMG type="full"]https://forex-images.ifxdb.com/userfiles/20200602/analytics5ed5ef05a22d0.jpg[/IMG] Technical Market Outlook: The EUR/USD pair has been consolidating the recent gains in a narrow zone located between the levels of 1.1148 - 1.1100. The bulls are hovering just below the lower supply zone boundary located between the levels of 1.1148 - 1.1190. Please notice, the market conditions are now overbought and despite the positive and strong momentum the price might start a corrective pull-back towards the nearest technical support located at the level of 1.1050. Weekly Pivot Points: WR3 - 1.1499 WR2 - 1.1307 WR1 - 1.1241 Weekly Pivot - 1.1045 WS1 - 1.0959 WS2 - 1.0772 WS3 - 1.0680 Trading Recommendations: On the EUR/USD pair the main long term trend is down, but the local up trend continues. The key long-term technical support is seen at the level of 1.0336 and the key long-term technical resistance is seen at the level of 1.1540. Only if one of this levels is clearly violated, the main trend might reverse (1.1540) or accelerate (1.0336). Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade. [I][URL="https://www.instaforex.com/forex_analysis"]Analysis are provided by[B][COLOR=Red]Insta[/COLOR]Forex[/B].[/URL][/I] [/QUOTE]
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