EURUSD: Weekly Forecast 24th - 28th June
EURUSD dipped lower on the second trading day last week as Draghi hinted an additional stimulus if needed.
However, the dollar has weakened so much as the Fed turned dovish and raise the expectation of a rate cut in months to come.
The price soared for 3 days and closed high before the market closes, creating another long bullish candle similar to 2 weeks ago.
Nevertheless, the upside is still quite limited and since the euro is also facing weakness of further stimulus, the price will still be somewhat tamed.
In this week, we will continue to wait for a retracement before going for a buying opportunity, the first level seen at 1.1355, followed by 1.1340.
However, the dollar has weakened so much as the Fed turned dovish and raise the expectation of a rate cut in months to come.
The price soared for 3 days and closed high before the market closes, creating another long bullish candle similar to 2 weeks ago.
Nevertheless, the upside is still quite limited and since the euro is also facing weakness of further stimulus, the price will still be somewhat tamed.
In this week, we will continue to wait for a retracement before going for a buying opportunity, the first level seen at 1.1355, followed by 1.1340.
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