FX.co ★ Fractal analysis of the EUR/USD currency pair. Trading recommendations

For EUR/USD, there are some conditions for an uprising tendency development, but still there is a possibility of the further development of the downward tendency.

Forecast for June 8:

Today, the important levels for EUR/USD are 1.2114, 1.2081, 1.2061, 1.2018, 1.1993, 1.1875, 1.1803 and 1.1657. Here, there is a small potential for upward movement development formed June 7. A short-term high is expected in the range of 1.1993-1.2018, the breakout of the last reading should accompanied by clear rising movement to 1.2061, the price consolidation is in the corridor of 1.2061-1.2081. Potential value for the high is considered 1.2114, after reaching which a downward pullback is expected. Concerning a falling motion, its continuation is awaited after the breach of 1.1875, here the target is 1.1803. The price consolidation is possible near this level. An impulsive descendant movement can take place after the breakout of 1.1803, here potential target is 1.1657.

Trading recommendations:
Buy: 1.2018 Take profit: 1.2061
Buy: 1.1805 Take profit: 1.2018
Sell: 1.1875 Take profit: 1.1830
Sell: 1.1801 Take profit: 1.1675