FX.co ★ EUR/USD analysis for June 16, 2020 - Bigger drop incoming on the EUR/USD due to the breakout of the upward channel. Downside target set at 1.1145

Corona virus summary:

Parts of the Chinese capital were fenced off on Monday night, with security checkpoints set up at residential compounds, and high-risk people – such as close contacts of diagnosed cases – prevented from leaving the city.

Technical analysis:

EUR/USD has been trading upwards yesterday towards the level of 1,1350 but sellers were found there and i see further downside in next few days. I expect downside movement towards the levels at 1,1206 and 1,1150.

Trading recommendation: