EURUSD Daily Outlook 22-06-20 – On Thursday the USD bulls were able to make one last push higher into the weekend thanks to negative risk sentiment during the U.S. session. Once again, it was coronavirus fears that sparked the risk-off rally, this time off of news that cases were rising in many states and that Apple will close some stores again in states that are seeing a resurgence of Covid-19 cases.

Welcome to the TickMill update, I’m Kiana Danial the founder of the Invest Diva movement. Make sure to subscribe to the Tickmill YouTube channel and support us by liking and sharing this video with your forex trading friends.

On Monday we’ll be eyeing the EU-China Summit, Euro zone’s consumer confidence flash and the US existing home sales.

Today I’m looking at the EUR/USD pair as it has maintained its bearish momentum after failing to break above the 1.14 resistance level in the past couple of weeks. The pair broke below the Ichimoku cloud on the 4-hour chart last week, towards the key support level of 1.116.

On Friday the pair was unable to break below this level. We could see a bit of correction here before further drops towards key Fibonacci support levels of 1.109 and 1.101 in the medium term.

Are you bearish or bullish on the EUR/USD pair?

Head over to the comments section and let me know.

Of course, trading in the financial markets involves a risk of loss and you should only trade the money you can afford to lose. If you liked this video, give it a thumbs up and subscribe to the Tickmill YouTube channel. I’ll get back to you with more updates tomorrow.

Disclaimer: The material provided is for information purposes only and should not be considered as investment advice. The views, information, or opinions expressed in the text belong solely to the author, and not to the author’s employer, organization, committee or other group or individual or company.

High Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% and 70% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd and Tickmill Europe Ltd respectively. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Share this post: