EURUSD MARKET ANALYSIS FOR 6TH JUNE TO 10TH JUNE 2022.

Key EURUSD news this week.

ThuJun
2:45pm EUR Main Refinancing Rate 0.00% 0.00%
9

EUR Monetary Policy Statement

3:30pm EUR ECB Press Conference

USD Unemployment Claims 205K 200K

FriJun
USD CPI m/m 0.7% 0.3%
10

USD Core CPI m/m 0.5% 0.6%

Always avoid making an entry to a trade 1 hour before the news are released and 1 hour after
they are released.

Technical analysis

 Sell bias

Market is clearly in a downtrend in the long term timeframes (i.e. 4h and Daily chart). We have a
buy possibility but also a sell possibility.

Clearly on the daily chart above the market is in a downward channel. It is making a pullback for
the previous few days.
The market has failed to break 38.2 Fibonacci level. Still the market is making a third touch to
the resistance trendline.

Below now is our entry timeframe (4h). You can still use 1hr chart or 2hr to make an entry but
always wait for candle to close before making an entry.

If the markets breaks the support of 1.0627 you enter a sell trade.

Entry: 1.0626
Stop Loss 1.0680

Take profit 1.0380

 Buy bias

Forex is market of probability so if you plan for a sell trade for example, also plan on how the
sell trade can be invalidated and it turns out to be a buy trade.

If the market breaks the downward trendline it can lead to the pullback continuing up to the
upper downward channel zone.

Entry: 1.0800

Stop Loss 1.0720

Take Profit 1.0980