EURUSD short-term analysis – 01 July 2022
The EURUSD is slipping back into its bearish area between the lower blue and red bands on its daily time frame. This weakness comes a day after a rally off the lows, charted by a bullish candle. Unfortunately, this positivity was short-lived, and the hourly chart has turned distinctly bearish.
EMAs have crossed down in the shorter time frame, and the stochastic has dropped into its lower quintile (blue arrow). The longer the oscillator maintains this position, the greater the downward pressure.
Please note that the Securities Industry and Financial Markets Association recommends an early close for the bond market at 2pm eastern. The early closure is part of its fourth of July weekend and may affect forex trade.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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