FX.co - EUR/USD analysis for June 26 2020 - Potential for the bigger rally on the EUR due to the breakout of the downward channel in the background.

2020-06-26T11:22:02

Relevance until2020-06-27

EUR/USD analysis for June 26 2020 - Potential for the bigger rally on the EUR due to the breakout of the downward channel in the background.

Corona virus summary:

EUR/USD analysis for June 26 2020 - Potential for the bigger rally on the EUR due to the breakout of the downward channel in the background.

France's health minister, Olivier Veran, says the scheme involving residents of 30 districts who have been invited to take a diagnostic virology test, could be extended to the rest of France if it proves useful. The virology tests, as opposed to blood antibody tests, are usually done by taking a swab from the patient's nose to check for the presence of the virus's genetic material (RNA) and are considered extremely accurate.

Technical analysis:

EUR/USD has been trading sideways at the price of 1,1225. The EUR did break the downside channel in the background and I expect further rally towards the levels at 1,1255 and 1,1280.

Trading recommendation:

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade

Analytical expert

Petar Jacimovic

InstaFintech Group @ 2007-2025

FX.co ★ EUR/USD analysis for June 26 2020 - Potential for the bigger rally on the EUR due to the breakout of the downward channel in the background.

Forex Analysis

EUR/USD analysis for June 26 2020 - Potential for the bigger rally on the EUR due to the breakout of the downward channel in the background.