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Technical analysis for the EURUSD on 10.08.2015

The EURUSD broke strong resistance at 1.0935

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 1.1100

Min. 1.0850

eurusd5

The price broke and held above 1.0935 resistance, which turned the EUR/USD downtrend up for correction. Increased volumes are another confirmation for that.

The closest correction target is situated at 1.1020 resistance. If price passes this barrier, the next growth target will be found at the descending trend line of 1.1070.

If price tests level 1.1070, it’s likely to trigger consolidation, followed by the bounce down.

Alternative scenario: the breakout of 1.0935 support will open the way down to the ascending trend line of 1.9860.

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 broke strong resistance at 1.0935

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 1.1100

Min. 1.0850

eurusd5

The price broke and held above 1.0935 resistance, which turned the EUR/USD downtrend up for correction. Increased volumes are another confirmation for that.

The closest correction target is situated at 1.1020 resistance. If price passes this barrier, the next growth target will be found at the descending trend line of 1.1070.

If price tests level 1.1070, it’s likely to trigger consolidation, followed by the bounce down.

Alternative scenario: the breakout of 1.0935 support will open the way down to the ascending trend line of 1.9860.

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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