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Technical analysis for the EURUSD on 20.08.2015

The EURUSD: downside correction has turned up

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 1.1275

Min. 1.1015

eurusd13

Support at 1.1015, which has been tested twice on yesterday’s session, held back the downside correction and the price rebounded up at increased volume, which indicates strengthening bullish potential.

The closest growth target was found at 1.1130 resistance. It’s very likely, that the price retraces down towards 1.1070 support, and then growth will recommence.

If price breaks and holds above the resistance of 1.1130, we’ll be expecting another test of the 1.1215 mark.

Alternative scenario: correction down into the range of the ascending trend line of 1.1050, followed by consolidation is a possibility.

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: downside correction has turned up

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 1.1275

Min. 1.1015

eurusd13

Support at 1.1015, which has been tested twice on yesterday’s session, held back the downside correction and the price rebounded up at increased volume, which indicates strengthening bullish potential.

The closest growth target was found at 1.1130 resistance. It’s very likely, that the price retraces down towards 1.1070 support, and then growth will recommence.

If price breaks and holds above the resistance of 1.1130, we’ll be expecting another test of the 1.1215 mark.

Alternative scenario: correction down into the range of the ascending trend line of 1.1050, followed by consolidation is a possibility.

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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