empty
11.06.2024 06:54 AM
Forecast for EUR/USD on June 11, 2024

EUR/USD

On the weekly chart, the euro has opened a gap below the support of the Kijun-sen line, setting a target at 1.0369, which coincides with the August 2022 peak and the embedded line of the descending price channel. The Marlin oscillator is close to entering negative territory, but first, we hope to see the gap closed below the Kijun-sen line.

This image is no longer relevant

If European market participants are alarmed by the victory of right-wing forces in the European Parliament elections, it simplifies the carry trade operation for the U.S. Treasury involving foreign investors, which in turn increases the demand for dollars. Today, there is an auction for 10-year bonds worth $39 billion and one-year bills worth $46 billion.

This image is no longer relevant

On the daily chart, the price has consolidated below the Kijun-sen line and the 1.0788 level, while the Marlin oscillator also settled below the neutral zero line. However, unless the gap is closed, it is unlikely for the price to fall in the medium-term. The Federal Reserve will announce its monetary policy decision tomorrow evening, and if the gap is not closed by then, high volatility is expected at the time of the release. Ultimately, we anticipate the price to reach the 1.0656 level.

This image is no longer relevant

On the 4-hour chart, the corrective growth continues as usual, with the Marlin oscillator rising and pulling the price above the 1.0788 level. The market has the opportunity to rise and close the gap before the Fed meeting.

Laurie Bailey,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Yuriy Zaycev
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forecast for EUR/USD on July 11, 2025

On Thursday, the EUR/USD pair continued its decline toward the 1.1645 level, while the 127.2% Fibonacci corrective level at 1.1712 was largely ignored by traders. A rebound from 1.1645 would

Samir Klishi 12:44 2025-07-11 UTC+2

Forecast for GBP/USD on July 11, 2025

On the hourly chart, the GBP/USD pair on Thursday rebounded from the resistance zone of 1.3611–1.3633 and resumed its decline toward the 127.2% Fibonacci level at 1.3527. A rebound from

Samir Klishi 12:20 2025-07-11 UTC+2

Despite the potential for a correction, gold still has the potential to strengthen today, Friday, July 11, 2025.

XAU/USD, Friday, July 11, 2025. Although it appears to have corrected due to being held at Resistance 1, the continued strength of XAU/USD's technical and fundamental conditions provides an opportunity

Arief Makmur 08:00 2025-07-11 UTC+2

EUR/USD Forecast for July 11, 2025

EUR/USD On the weekly chart, we observe a set of reversal signals: divergence, a trend shift in the Fibonacci time zone, and a price rebound from the intersection

Laurie Bailey 07:09 2025-07-11 UTC+2

GBP/USD Forecast for July 11, 2025

GBP/USD On the monthly chart, the British pound reversed from the 161.8% Fibonacci reaction level, calculated from the upper boundary of the global 18-year price channel, immediately after

Laurie Bailey 06:46 2025-07-11 UTC+2

USD/CAD Forecast for July 11, 2025

USD/CAD The Canadian dollar had been consolidating for three days before today's upward breakout during the Pacific session. The price has already pierced the balance line with its upper shadow

Laurie Bailey 06:42 2025-07-11 UTC+2

Forecast for EUR/USD on July 10, 2025

On Wednesday, the EUR/USD pair continued to move along a trajectory known only to itself. The 127.2% Fibonacci correction level at 1.1712 was once again ignored by traders. I still

Samir Klishi 12:21 2025-07-10 UTC+2

Forecast for GBP/USD on July 10, 2025

On the hourly chart, the GBP/USD pair continued its upward movement on Wednesday after rebounding from the 127.2% Fibonacci corrective level at 1.3527. The rebound was precise, leading

Samir Klishi 10:35 2025-07-10 UTC+2

GBP/JPY. Analysis, Forecast, and Current Market Situation

On Thursday, the GBP/JPY pair is regaining upward momentum and shows readiness for further growth. The formation of an ascending channel confirms the stability of the bullish trend. During

Irina Yanina 10:22 2025-07-10 UTC+2

If the resistance level of 0.7964 holds back its upward movement, USD/CHF has the potential to weaken on Thursday, July 10, 2025.

USD/CHF, Thursday, July 10, 2025 In addition to rumors of a planned Fed interest rate cut and falling US government bond yields, USD/CHF weakened today. Key Levels 1. Resistance

Arief Makmur 06:47 2025-07-10 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.