FX.co ★ EUR/USD. June 10th. Results of the day. The euro currency is prone to growth if it receives news from the US

4-hour timeframe

The amplitude of the last 5 days (high-low): 102p - 50p - 88p - 108p - 97p.

Average amplitude for the last 5 days: 89p (79p).

The first trading day of the week was quite confident for the EUR/USD. A correction took place, but the pair did not reach the critical line, and the last two bars were bullish, which indicates a possible resumption of the uptrend. It will be difficult for the MACD indicator to turn up at its current values, so it can react to the completion of the correction with a long delay. In general, based on the technical analysis, the upward trend is maintained, so in any case it is recommended to trade for an increase. From a fundamental point of view, on Monday, June 10, there is absolutely nothing to analyze, since no important macroeconomic reports were published in the US and the eurozone today. The attention of traders shifted to the UK, where there were several important indicators. From our point of view, as long as the technique speaks in favor of the euro, it should maintain an upward mood. The foundation currently says that the euro's growth can be short-lived, and its main reason now is the extremely failed statistics from overseas in the last two weeks. However, the economic indicators of the EU also leave much to be desired, as well as the attitude of the ECB head Mario Draghi, as well as the monetary policy of the European Union. Therefore, sooner or later, traders will take into account that weak statistics from the United States is equal in importance to weak statistics from the EU and there are no good reasons for strengthening the European currency. If a trade war with the United States begins, it will be another major blow to the EU economy. In general, despite the euro's growth in recent weeks, the prospects for the single currency remain very vague.

Trading recommendations:

The EUR/USD pair is still being adjusted. Thus, now it is still recommended to trade for an increase with a target resistance level of 1,1400, but after the completion of the current round of correction.

It will be possible to sell the euro/dollar pair in small lots if the bears manage to gain a foothold below the critical line, with the first target of 1.1226. In this case, the initiative for the pair will return to the bears.

In addition to the technical picture should also take into account the fundamental data and the time of their release.

Explanation of the illustration:

Ichimoku indicator:

Tenkan-sen - the red line.

Kijun-sen - the blue line.

Senkou Span A - light brown dotted line.

Senkou Span B - light purple dotted line.

Chikou Span - green line.

Bollinger Bands indicator:

3 yellow lines.

MACD Indicator:

Red line and histogram with white bars in the indicator window.