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This article compiles the 5 most interesting charts for early June 2020. The charts chosen are the ones with the most interesting weekly timeframe price action scenarios.
The Euro shows a trendline that has its first touchpoint in early 2011. The last time the price touched the trendline was in early 2018.
Although the current price is still quite a bit away from the trendline, the latest bullish bounce makes a trendline scenario more likely.
However, prior to testing the trendline, the price will be facing the 200 period weekly moving average – a major support/resistance zone.
The S&P500 broke above the weekly 50 period moving average last week. Currently, the price seems to be successfully retesting the moving average as support level. If price can hold above the moving average, more upside may be possible.
The price is trading into the large red candle. Such long and straight candles usually allow the price to travel easily because no suppor...
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