61.8% Correction Zone on EUR/USD

61.8% Correction Zone on EUR/USD

Since the beginning of the current month, the bullish sentiment has been prevailing on the EUR/USD currency pair. The trading instrument has updated key highs. At the moment, the EUR/USD quotes are consolidating near the 61.8% correction zone. The euro has the potential for further recovery. The local resistance is the 1.12150 mark. We recommend paying attention to this situation.

If the price fixes above the level of 1.12150, you should consider buying EUR/USD. The immediate goal for profit taking is 1.12450-1.12600. The movement is tending to 1.12850-1.13000. When following positions, we recommend using a trailing stop.

by JustForex 2019.06.19

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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