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Technical analysis for the EURUSD on 11.06.2015

The EURUSD: false breakout of 1.1355 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 160 pips Max. 1.1450

Min. 1.1180

eurusd8

The situation in the EUR/USD is looking unclear on the 4-hour chart. Yesterday’s false breakout of 1.1355 resistance is a good sign in favor of further decline.

To confirm this signal, bears have to break the inclined support line at 1.1230, which is now acting as the lower border of the symmetric triangle.

The breakout of the triangle’s lower border will open the way towards 1.1180, 1.1100 supports.

Alternative scenario: to continue growth, bulls have to 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: false breakout of 1.1355 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 160 pips Max. 1.1450

Min. 1.1180

eurusd8

The situation in the EUR/USD is looking unclear on the 4-hour chart. Yesterday’s false breakout of 1.1355 resistance is a good sign in favor of further decline.

To confirm this signal, bears have to break the inclined support line at 1.1230, which is now acting as the lower border of the symmetric triangle.

The breakout of the triangle’s lower border will open the way towards 1.1180, 1.1100 supports.

Alternative scenario: to continue growth, bulls have to 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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