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EURUSD technical analysis 03.06.2020


The pair is at 1.1200, supported by the strong growth in demand for risk assets amid the new signs of the global economic growth: recent manufacturing data in Europe, Asia, and the US. The pair may continue to consolidate if May’s unemployment data to be released today in Germany isn’t worse than the expected 200,000 after April’s 373,000.

Technical side:

The price is at the upper Bollinger band, above SMA 5 and SMA 14. RSI entered the overbought zone, but continues to grow. Stoch are also in the overbought zone.

Trading recommendations:

If the pair fixes above 1.1200 amid the positive news from Germany, it will continue to grow first to 1.1240, and then to 1.1280.

The EURUSD rate online: monitor the movement of the pair in real time.

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