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EUR/USD Forecast 30 Jun 16

Good day forex traders.

The EUR/USD remains in a tight range as expected. I mentioned before that tight ranges may signal uncertainty and from a technical point of view, a possible breakout scenario.


Looking at the EUR/USD 4 hourly chart above we can see the currency pair ascending slowly. This is probably due to usual market alignment. 1.1130 is likely functioning as an immediate resistance.

If you seen the debates happening in the European Union meeting and how Britian is positioning it’s stance, we can draw a conclusion. It is likely that there is no turning back for the Brexit. This will likely dampen sentiments.

An area to monitor would also be the process of separation. As brought out in the meeting, lingering uncertainty is not good for the markets.

I am likely to not commit for the week.Trade safely .

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