EURUSD Strives to Advance Further North Past the 1.1146 Marks Following Improved Risk Appetite Trends


EURUSD Price Analysis – June 1

In the single currency, the upside traction stays well and tone for yet another session on Monday and is pushing EURUSD at an intray high of 1.1154 level to fresh 2-month highs. Nonetheless, the prevalent improved risk-on situation continues to lend support to the dollar retreat in pursuit of more volatile pairs and thus boost the pair to levels last seen in the mid-1100s of late March.

Key Levels
Resistance Levels: 1.1495, 1.1366, 1.1236
Support Levels: 1.1020, 1.0870, 1.0635

EURUSD Long term Trend: Ranging
At the beginning of the week, EURUSD flirts with the main resistance area around 1.1146 marks. The pair is currently advancing 0.13 percent at level 1.1108, and a breach beyond level 1.1154 (high) may attempt level 1.1286 (61.8 percent rally) heading to level 1.1236 (high). On the other hand, the initial objection arises at level 1.1020 (MA 5), followed by level 1.0950 (MA 13), and finally level 1.0870 (low).

In the wider sense, the downward trend is still on the way as long as 1.1495 resistance level holds. Nevertheless, a continuous breach of 1.1495 level may contend that such a downward trend is over. An increase from level 1.0635 may then be seen as the 3rd phase of the trend from the low level at 1.0339. In this scenario, the trend is rendered bullish for a 1.1495 level retest.

EURUSD Short term Trend: Bullish
Intraday bias in EURUSD for further rise stays on the upside. Price activities from 1.0635 level may be seen as a corrective trend. Its growth potential may be constrained at 1.1236 levels by a pullback of 61.8 percent from 1.1495 to 1.0635.

On the downside, resistance altered support under 1.1020 level may turn intraday bias to the downside for support level 1.0870. Continuous breach of 1.1146 level would nevertheless open the path for the next primary resistance level of 1.1495.

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.