FX.co ★ EUR/USD analysis for June 12, 2020 - Potential for the upward movemet due to end of the downside correction (Running flat). Upside target set at 1.1400

News COVID:

The UK government has dropped plans for full border checks on goods coming in from the EU from 1 January 2021 over fears of the economic impact of corona virus.

Technical analysis:

EUR/USD has been trading downwards. The price tested and rejected of the level at 1,1275. There is potential that 4H time-frame is on the running flat pattern, which is sign that there is potential for the upside...

Trading recommendation:

Watch for selling buying opportunities due to the potential end of the downward correction.

I see potential for the upside rotation towards the level at 1,1400.

Support level is seen at the price of 1,1250

Stochastic oscillator is showing fresh bull cross, which is another sign for potential rise...