The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.
How to trade EUR/USD?
2020-06-18 • Updated
EUR/USD will likely trade within the range in stayed in yesterday. The 100-period MA on the H4 (1.1225) supports the pair. As long as it stays above this line, it will have an opportunity to rise to 1.1300 (short-term resistance line; 50-period MA). The further way to the upside, however, will be difficult. The pair will likely meet resistance in this area and reverse to 1.1200. The break below the latter is needed to open the way down to 1.1100.
Trade idea for EUR/USD
BUY 1.1265; TP 1.1300; SL 1.1245
SELL 1.1300; TP 1.1230; SL 1.1325
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