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Technical analysis for the EURUSD on 09.11.2015

The EURUSD: short-term correction up

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.0850
Min. 1.0600

eurusd

Three-week decline of the Euro against the US dollar reached support at 1.0705 and the price commenced a short-term correction from this barrier, which will most likely last for the whole trading session today.

Potential correction target is situated at the strong resistance of 1.0815, where the upper border of the medium-term descending channel is situated.

Test of 1.0815 mark will most likely trigger consolidation , followed by the rebound down to 1.0705 support. The breakout of this barrier will open the way to 1.0600.

Alternative scenario: if the upside correction goes beyond level 1.0815, the next target will be situated at 1.0850. There’s a big chance of the rebound down from 1.0815 or 1.0850.

 

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

The EURUSD: short-term correction up

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 1.0850
Min. 1.0600

eurusd

Three-week decline of the Euro against the US dollar reached support at 1.0705 and the price commenced a short-term correction from this barrier, which will most likely last for the whole trading session today.

Potential correction target is situated at the strong resistance of 1.0815, where the upper border of the medium-term descending channel is situated.

Test of 1.0815 mark will most likely trigger consolidation , followed by the rebound down to 1.0705 support. The breakout of this barrier will open the way to 1.0600.

Alternative scenario: if the upside correction goes beyond level 1.0815, the next target will be situated at 1.0850. There’s a big chance of the rebound down from 1.0815 or 1.0850.

 

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



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