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Weekly Forex Forecast for June 15 – 19, 2020
The EURUSD lost some ground late last week after an impressive 550 pip rally that began May 25th. If you saw last week’s forex forecast, you know that I was keeping a close eye on the 1.1340 to 1.1380 resistance area. Despite repeated attempts from buyers, the EURUSD never closed above 1.1380. As I mentioned before the weekend, the upward sloping flag on the 4-hour chart hinted at weakness on Friday. Sure enough, the EURUSD sold off and also retested 1.1230/40 support. That’s the area sellers have to break this week to send the euro lower toward the next key support at 1.1150. But as long as the 1.1400 region is ... (full story)