EUR/USD Analysis-June 06,2011
Monday, 06 June 2011 05:07
Forex EUR / USD Intraday Analysis - June 6, 2011: Testing the 1.4748 Level, Alert Corrections
Yesterday: Open 1.4492 High 1.4644 Low 1.4450 Close 1.4635
Towards the beginning of the session yesterday the U.S., the euro experienced a bullish with the daily high low in the range of 190 pips. Euro experience with high break resistance level is 1.4575.
Currently the Euro still looks bullish but cautious movement of the Euro to the correction considering the stochastic lines are already playing in overbought area.
The focus of today's economic data for the EUR / USD is:
1. EUR Sentix Investor Confidence
2. EUR PPI m / m
If the price increases continue to open opportunities to the 1.4748 resistance level.
Conversely if the decline continues, the price of open opportunities to the 1.4476 level.
Prices shown on the graph H1 line MA05 and MA10 bullish conditions.
While the Stochastic indicator indicating a bearish condition.