EURUSD Still bearish on weekly basis

That will be the trade for month of June , Possible good correction for #eurusd from multi month high not seen since before Trump winning presidency.

On Weekly chart , You can see the pair reversing from bearish trend line. So , it is good to go short at current level around 1.12$ with Stop loss on weekly close above the trend line.

The target of the correction will be around 1.0930-1.10$.... And there is a gap not filled yet between 1.0720-1.0820$ , So it might be targeting to fill this gap.

Usd recovering against the board

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.

Gbp/Usd bearish below 1.2980$

The pair broke below the rising trendline in red as shown in the chart below. It is also trading below 200 hour moving average. There is horizontal resistance at 1.2980$ area followed by 1.3080$ area. Being Short is favorable with stop loss above 1.3080$. Target should be around 1.2640$ , you can book some profits at 1.2780$.

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