Market Analysis of EURUSD on Tuesday 14 June 2021
On Monday, EURUSD rose in the Asian session and fluctuated around the price of 1.2120. The EU announced that industrial production in April increased by 0.8% month-on-month and 39.3% year-on-year, far better than expected. The focus is on the Fed's monetary policy decision which will be announced on Wednesday. Recent data shows that inflation has soared, and people are worried about the price pressure caused by the reopening of the economy after COVID19 pandemic, which may force policymakers to reduce currency devaluation stimulus plans in advance. The daily candle of Euro is closed with a small bullish candle after a major drop in price. For short-term, bears seem to be more dominant. The H4 graph shows a weakening ladder and the indicator also shows bearish signs. H1 graph shows that 1.2145 will be the deciding point for bull and bear. Overall maintain sell on high strategy. The deciding point whether to buy or sell is near 1.2100
Resistance：1.2145-1.2170-1.2200
Support：1.2100-1.2050-1.2000
Disclamer: The report is speculatif and DO NOT guarantee profit. Not financial advice. Please trade at your own risk.
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