EUR/USD – Weekly Outlook- June 13 2019

EURUSD Outlook & Technical Analysis for Binary Options


As the trade war between the U.S and China intensify, the Euro, on the other hand, strengthens with an increase in buying pressure.

Let’s take a look at technical and fundamental drivers of the EURUSD across major US binary options broker such as Bin Bot Pro.



Mario Draghi ECB President’s Speech 

The ECB President Mario Draghi is scheduled to speak on Wednesday, June 12.

Mr. Draghi’s comments can have a severe impact on the market, mostly during situations where an intervention is expected, or alter their position on monetary policies.

At the early periods of the crisis in the region, politicians set higher demand on the ECB to shore up the economy. 

Hints or suggestions of the ECB working in the same direction as the politicians may encourage demand for the Euro and consequently short term risk-prone investments. USD NEWS

Consumer Price Index 

The CPI measures inflation, comparing the previous month to the current month readings, which will be released on Wednesday, June 12 ’19. 

The readings for April came out at 0.3%, which is less than the March value of 0.4%.

Higher readings show a bullish outlook for the USD.

EURUSD Technical

EURUSD: Monthly Chart

EURUSD Outlook - Monthly Chart - June 12 2019

The EURUSD has been in a 15 months bearish trend starting from a collapse of hidden bullish accumulation 02 April ’18. So far, the price of the Euro has declined by about 8.0% from the failure point, entering into a downward spiral on top forex exchange trading platforms.

A gathering of bearish sentiment on 01 June ’18 and 01 February ’19 are key technical price indicators and entry levels for scaling into the bearish trend.

In the current month, critical resistance levels (1.13239, and 1.11071) established from a gathering of sellers are threatened at press time.

EURUSD: Weekly Chart

EURUSD Outlook - Weekly Chart - June 12 2019

Taking it one notch down to the weekly time frame you’ll observe a buildup of regular bullish divergence comparing the RSI to the current price on 24 December ’18 and 03 June ’19, with support levels set at 1.12154 and 1.11071.

A failure of the critical resistance level of 1.12648 hints a recovery for the Euro paired against the USD as well as major currencies.

EURUSD: Daily Chart

EURUSD Outlook - Daily Chart - June 12 2019

After a rejection of buyer support on 15 April ’19, an increase in selling pressure of the EURUSD in favour of the USD forced the price into a bearish descent. A similar breakdown was triggered on 14 May ’19 where resistance is set at 1.12636, before an opposite break of selling strength resulted in a price increase of about 1.60% at press time.


An earlier surge in buying pressure on 31 May ’19 12:00 and 06 June ’19 04:00 a regular bearish divergence opposed. The bears after exiting overbought territory on 05 June ’19 08:00 and 09 June ’19 16:00 could not hold their grounds as a result of a sudden upbeat.


Complete recovery of the Euro is hinged on the price close above the 1.13239. If the price violates the reference resistance level at the closing price in June, we should look forward to a long term recovery of the Euro.

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