Analysis and Forecast EUR / USD - Weekly review (20.06-24.06)
Updated
A currency pair is currently just below the important resistance zone of 1,1295-1,1330 can be seen especially on the daily chart. On the impact of the Eurodollar they will certainly have another opinion polls, but from a technical point of view, to overcome the resistance to open the way towards the last peak at 1.1416. Bearing in mind the pressures associated with the referendum seems to be more likely further weakening of the single currency and consequently, a return towards the recent lows 1.1189 and 1,1131-44. In the event of further declines in supply can put towards 1,1058-80. The level of defense for the scenario of succession is above the level of 1.1330.
Regardless of the situation that prevails in the British Isles, we may agree that the single currency is holding up well. To sum up my thoughts, we can conclude that in the first part of the week the single currency may lose (if the date of the referendum will not be changed) and then to the dollar should be the reverse (back to concerns about the lack of further interest rate hikes in the US).
Version alternative involves changing the date of the referendum (postpone), which will support the common currency. This option will allow the demand side, on the attack on the resistance zone of 1,1295-1,1330.
Regardless of the situation that prevails in the British Isles, we may agree that the single currency is holding up well. To sum up my thoughts, we can conclude that in the first part of the week the single currency may lose (if the date of the referendum will not be changed) and then to the dollar should be the reverse (back to concerns about the lack of further interest rate hikes in the US).
Version alternative involves changing the date of the referendum (postpone), which will support the common currency. This option will allow the demand side, on the attack on the resistance zone of 1,1295-1,1330.
Note
New surveys carried out after the murder of Jo Cox, point to the victory of supporters of stay in the EU structures. Eurodollar is measured before the opening of the market at the level of 1.1324, suggesting further growth at the beginning of the week.
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