Forecast for EUR/USD on June 3, 2020

EUR/USD

Risk appetites continue to grow despite protests and riots in the US: S&P 500 gained 0.82% yesterday, gold fell 0.69%, yield on 5-year US government bonds rose from 0.31% to 0, 32% The euro grew by 35 points, gaining a foothold on the daily chart over the trend line of the price channel. Target of 1.1250/65 is open.

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The price is growing in a stable trend on the four-hour chart, but the Marlin oscillator has formed a divergence. With an increase in the price of another 15 points, the divergence can be reorganized into a regular pullback of the indicator (indicator discharge) with the resumption of growth. We are waiting for the price in the specified target range, where it is possible to form a more stable reversal pattern.

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The material has been provided by InstaForex Company – www.instaforex.com