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FX.co ★ EUR/USD analysis for June 16, 2020 - Bigger drop incoming on the EUR/USD due to the breakout of the upward channel. Downside target set at 1.1145

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Forex Analysis:::2020-06-16T12:07:29

EUR/USD analysis for June 16, 2020 - Bigger drop incoming on the EUR/USD due to the breakout of the upward channel. Downside target set at 1.1145

Corona virus summary:

EUR/USD analysis for June 16, 2020 - Bigger drop incoming on the EUR/USD due to the breakout of the upward channel. Downside target set at 1.1145

Parts of the Chinese capital were fenced off on Monday night, with security checkpoints set up at residential compounds, and high-risk people – such as close contacts of diagnosed cases – prevented from leaving the city.

Technical analysis:

EUR/USD has been trading upwards yesterday towards the level of 1,1350 but sellers were found there and i see further downside in next few days. I expect downside movement towards the levels at 1,1206 and 1,1150.

Trading recommendation:

Analyst InstaForex
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