Intraday Analysis For EUR/USD - Thursday, June 25

Forex trader, Market Analyst • Jun 25, 2020 at 3:37 AM EDT

While the price could not manage to continue move up after the breakout it could be that this is a retrace before trying to break above $1.13427.

After yesterday’s analysis, EURUSD has made retrace to $1.12806. On that support level we had a bullish Pinbar that was indicating the price could move further up. But, the price did not move up and instead, it moved down.

Two strong bearish candles have moved the price below $1.12806 level and currently is very near second support level at $1.12366. In the previous day’s this support level was holding price above, so we can expect it will do the same. It is also the level at which the price have a breakout from the wedge pattern.

EUR/USD Chart Forecast

While the price could not manage to continue move up after the breakout it could be that this is a retrace before trying to break above $1.13427.

Bulls need to find some support where they can try to make its way up. Current support $1.12366 could be the place where the price will stall. On that level, we should wait to see what happens.

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