EURUSD OUTLOOK JUNE 15-19

12. Juni 2020

EURUSD is looking to fulfill an head+shoulders pattern based on the 4H and lower timeframes. The markets reacted this week with the Federal Funds Rate being kept at 0.25% for the USD. The markets have reacted strongly to that decision and has showed signs of trend reversals/USD strength in most pairs. The criteria I am looking for regarding this pair is 1 of 3 things. A 4HR bearish closure below 1.11929. Whether that be a bearish engulfing candlestick, bearish inside bar pattern, or a bearish pin bar candlestick. This should take this pair to 1.11000, which would equate to about 90 or so pips. Patience is key.