Forecast for EUR/USD on June 1, 2020

EUR/USD

The euro worked out the embedded line of the price channel last Friday, and makes an attempt to overcome it this morning. Success paves the way for the price in the target range of 1.1250-1.1265. The indicators on the daily timeframe show no signs of a reversal.

Exchange Rates 01.06.2020 analysis

The price is above the balance and MACD lines on the four-hour chart, the Marlin oscillator is growing without signs of a reversal. Apparently, the transition of the price above the signal level of 1.1145, which triggers it to go higher, is only a matter of time.

Exchange Rates 01.06.2020 analysis

Source: Forecast for EUR/USD on June 1, 2020

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