EURUSD
On Monday, Euro remained stable and fluctuated around 1.2180. USD generally rose against major currencies last Friday and Euro was under pressure. The USD was boosted by U.S. manufacturing data as traders eased concerns that the meeting minutes of the Federal Reserve meeting suggested that Fed officials would discuss future reductions in quantitative easing of regulations. Europe benefited from the easing of lockdown due to coronavirus. German service sector activity survey and French business activity in May were better than expected. From a technical point of view, Euro’s weekly candle is closed with a long upper shadow and a hammer line. It is obvious that the market is under pressure. H4 graph shows formation of M structure supported by the neckline at 1.2160, and the current downward trend is not continued. However, the moving average appears form Death Cross and continues to operate around the middle band of Bollinger band. Overall prioritise Sell on high on the fluctuation zone. The deciding point whether to buy or sell is near 1.2160
Resistance：1.2205-1.2250-1.2280
Support：1.2150-1.2120-1.2100
Disclamer: The report is speculatif and DO NOT guarantee profit. Not financial advice. Please trade at your own risk.