EUR/USD a likelihood to test 1,16 again

12.06.2018 / 10:30

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Forex Technical Analysis EUR / USD Our expectations:

Short-term consolidation between 1.1815 and 1.1725, as at the beginning of the European trading session the impulse shows positivism in the pair.

The activated Head & Shoulders formation and the two neckline tests support the positive moods. However, the current price is no longer suitable for long positions and the next levels that can provoke new purchases are a break above 1.1815.

The price is also locked between SMA50 and SMA200 moving average, which makes it unlikely that this impulse will break the resistance.

USD/CHF - Good levels for increase our short exposure

The expiring options and the levels with most money are:

3.56bn @ 1.1700 / 20 13th
1.31bn @ 1.1600 & 2.49bn @ 1.1700 14th
1.40bn @ 1.1700, 1.65bn @ 1.1800 & 1.02bn @ 1.1850 15th

Any break below 1.1725 may trigger a lot of sell orders, leading to a new test at 1.16 tomorrow.

A real breakthrough above 1.1815 for now remains unlikely given the forthcoming ECB meeting on Thursday.

Trader Nikolay Georgiev

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EUR/USD a likelihood to test 1,16 again

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