Forex Technical Analysis, EUR/USD Daily Forecast June 6, 2016

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Forex Technical Analysis, EUR/USD Daily Forecast June 6, 2016

Technical Analysis – The EUR/USD pair broke higher during the course of the session on Friday, as we got a horrible jobs number coming out of the United States. That being the case, the US dollar fell rather significantly. With that being the case, it’s likely that the market will continue to go higher, as we have seen such a bullish turn around in the EUR/USD pair. Ultimately, this market will test the 1.15 level given enough time, and perhaps even break out above there as expectations with the Federal Reserve will have certainly changed at this point in time.

In Other View Point –EUR/USD – LONG TERM VIEW
The Monthly view shows a bearish channel where the EUR now bounces upwards. Target @1.2472 The Weekly shows the same. Targets @1.1808 / @1.2225 / @1.2642 The Daily shows a bullish channel. Targets @1.14 / @1.15 / @1.16 / @1.17 The Intraday 4 Hours chart shows a small correction and could go down to @1.1256 before being further bullish to @1.1431.

Technical Analysis

Courtesy : http://www.fxempire.com/technical/technical-analysis-reports/eurusd-forecast-june-6-2016-technical-analysis-342023

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