FX.co ★ Technical analysis of EUR/USD for June 2022

trend analysis

EUR/USD will increase this June, from 1.0732 (closing of the May monthly candle) to 1.0821, the 23.6% retracement level (red dotted line). Upon reaching it, the pair will go to the 38.2% retracement level at 1.1111 (red dotted line), then turn down again.

Fig. 1 (monthly chart)

comprehensive analysis:

Indicator analysis - uptrend

Fibonacci levels - uptrend

Volumes - uptrend

Candlestick analysis - uptrend

Trend analysis - uptrend

Bollinger bands - uptrend

All this points to an upward movement in EUR/USD.

Conclusion: The pair will have an upward trend, with no first lower shadow on the monthly white candle (the first week of the month is white) and no second upper shadow (the last week is white).

And throughout the month, the pair will climb from 1.0732 (the closing of the May monthly candle) to the 23.6% retracement level at 1.0821 (red dotted line), move to the 38.2% retracement level at 1.1111 (red dotted line), then turn down again.

Alternatively, the pair could decline from 1.0732 (the closing of the May monthly candle) to the historical support level at 1.0514 (blue dotted line), then bounce back to the 23.6% retracement level at 1.0820 (red dotted line).