EUR/USD Weekly Analysis 19 June 2017 – a Rangebound Market with a Slightly Bullish Bias

The Fed hiked rates as expected and Janet Yellen insisted they will raise rates again this year. The USD did strengthen on the back of these comments, but gave up most of those gains when weak consumer confidence and housing data was released on Friday. The market is not convinced by Yellen’s stance, which is being contradicted by economic data. Trump’s agenda appears to have stalled and he will need to begin to make progress if we are to see USD strength again. In the meantime the market remains rangebound between 1.114 and 1.13.

(EUR/USD Weekly – Coud be a top, but probably a bull flag)

(EUR/USD 4-Hour – Currently Rangebound)

For the complete analysis go to http://www.eurusd.co/analysis/the-retracement-loses-steam-19-june-2017.html

About Jessica

Jessica has been a trader in the forex market for the last decade. She specializes in technical analysis and writes for several forex blogs about the topic.