Register
Demo
Contacts
 

Stock market analytics, financial forecasts

Forexmart's Market Analysis section provides up-to-date information about the financial market. The overviews are intended to give you an insight into current trends, financial forecasts, global economic reports, and political news that influence the market.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Trading plan for EURUSD for June 11, 2021
09:07 2021-06-11 UTC--4
Exchange Rates analysis

Technical outlook:

EURUSD is beginning to slip lower towards 1.1986 in the short term and 1.1300 in the medium term. EURO bears seem to be back in control and dragging prices lower after having raised higher towards 1.2218 recently. A breakout below 1.2100 will accelerate further downside as bears are looking to stay in control from here.

EURUSD is seen to be trading around the 1.2130/35 levels at this point in writing and is expected to continue drifting lower. Immediate resistance is seen around 1.2254, followed by 1.2266 while support is seen towards 1.1986 respectively. Bears are poised to break below 1.1986 confirming a trend reversal ahead.

EURUSD had earlier rallied through 1.2350 highs in January 2021. Since then, bears have been in control and they have managed to carve at least one lower low and lower high until now. A break below 1.2100 would resume and accelerate trend lower towards at least 1.1300 going forward. Traders are advised to maintain short positions.

Trading plan:

Remain short for now, stop @ 1.2350, target @ 1.1300

Good luck!

Back to the list

World-Class Trading Platform

Professional Customer Support

Best Execution

Logo

QUICK LINKS

+ 442 030 976 697
Contact Us
Feedback
twitter
App store google play

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.