EURUSD short-term analysis for 20 June 2022
The daily EURUSD remains in its weak area between the lower blue and red bands on the left. The longer this position persists, the greater the chance of further EURUSD weakness. The hourly chart on the right side shows the EURUSD rising into R1 pivot resistance. Its stochastic has already rolled over (green rectangle), suggesting that upside momentum may be waning. If the EMAs cross down (black ellipse), this will be considered a bearish development. Finally, if the stochastic makes its way to 20 and below, selling momentum will apply downside pressure on the currency pair.
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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