FX.co ★ Burning Forecast 03/06/2019

The signal for starting a downward movement in the euro is still in force. After breaking through the daily level of 1.1315, the EURUSD rate closed the day lower and is ready to move further down. The disadvantage for sellers is that while the movement is very weak - at least only 1.1289.

We expect a break of 1.1289 down and movement to 1.1230.

It is precisely at 1.1230 that the fate of the trend will be decided - if it is destined to happen. A close of the day below 1.1230 will be a strong signal for a downward trend.

We keep selling from 1.1315 - stop at 1.1360.

In case of an upward reversal, buy at a break of 1.1425 up.