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FX.co ★ Technical Analysis of EUR/USD for June 25, 2021

Technical Analysis of EUR/USD for June 25, 2021

Technical Market Outlook:

The EUR/USD pair has been trading above the key short-term technical support seen at the level of 1.1915, so another wave up might unfold soon. The next target for bulls is seen at the level of 1.1991 and 1.2000. In a case of a failure here, the next target for bears is the long term trend line support around the level of 1.1795 (marked as orange line on the daily time frame chart). Any violation below this line would trigger another wave down towards the key technical support seen at the level of 1.1704. The nearest technical resistance is located at the level of 1.1986.

Weekly Pivot Points:

WR3 - 1.2305

WR2 - 1.2222

WR1 - 1.2007

Weekly Pivot - 1.1927

WS1 - 1.1702

WS2 - 1.1620

WS3 - 1.1401

Trading Recommendations:

The distribution cycle had been completed and now the market is on the move down. The key long term technical support is seen at 1.1704. When this cycle is terminated, the up trend can be continued towards the next long-term target located at the level of 1.2350 (high from 06.01.2021).

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Technical Analysis of EUR/USD for June 25, 2021

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