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Technical analysis for the EURUSD on 10.06.2015

The EURUSD is consolidating around the descending trend line of 1.1330

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 1.1450

Min. 1.1180

eurusd7

Short-term test of the  1.1330 descending trend line yesterday was followed by the bounce 130 pips down. Then, bulls seized the initiative again, so the price is now correcting up.

Today the price will make another attempt to test the descending tend line at 1.1330. If the volumes are low and the test turns out false, we’ll be expecting a bounce down again.

Potential decline targets are situated at 1.1250 support and inclined support of 1.1200.

Alternative scenario: the uptrend will continue if bulls break and hold above the resistance of 1.1355.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!

The EURUSD is consolidating around the descending trend line of 1.1330

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 130 pips Max. 1.1450

Min. 1.1180

eurusd7

Short-term test of the  1.1330 descending trend line yesterday was followed by the bounce 130 pips down. Then, bulls seized the initiative again, so the price is now correcting up.

Today the price will make another attempt to test the descending tend line at 1.1330. If the volumes are low and the test turns out false, we’ll be expecting a bounce down again.

Potential decline targets are situated at 1.1250 support and inclined support of 1.1200.

Alternative scenario: the uptrend will continue if bulls break and hold above the resistance of 1.1355.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!



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