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Technical analysis for the EURUSD on 21.08.2015

The EURUSD broke strong resistance at 1.1215

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.1435

Min. 1.1215

eurusd14

The uptrend of the EUR/USD keeps strengthening – the pair has breached strong resistance of 1.1215 at high volumes – the bulls are very strong.

Besides the 1.1215 resistance, they also managed to break inclined resistance of 1.1255, above which the price is currently traded. These two breakouts suggest continuation of the uptrend.

A batch of high and medium impact fundamental news is being released in the Euro area today. The price is expected  to re-test the 1.1255 support amid the news and then rebound up to 1.1300, 1.1410 – 1.1435.

Alternative scenario: correction down into the range of tough 1.1215 support is a possibility. The test of this barrier will most likely trigger consolidation, followed by the rebound up.

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 1.1215

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.1435

Min. 1.1215

eurusd14

The uptrend of the EUR/USD keeps strengthening – the pair has breached strong resistance of 1.1215 at high volumes – the bulls are very strong.

Besides the 1.1215 resistance, they also managed to break inclined resistance of 1.1255, above which the price is currently traded. These two breakouts suggest continuation of the uptrend.

A batch of high and medium impact fundamental news is being released in the Euro area today. The price is expected  to re-test the 1.1255 support amid the news and then rebound up to 1.1300, 1.1410 – 1.1435.

Alternative scenario: correction down into the range of tough 1.1215 support is a possibility. The test of this barrier will most likely trigger consolidation, followed by the rebound up.

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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