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Technical analysis for the EURUSD on 10.11.2015

The EURUSD: trading remains without changes

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

eurusd1

Bulls corrected the price up from 1.0705 support on yesterday’s session. However, the price failed to reach the closest resistance at 1.0815 and turned down.

At the moment the price is approaching 1.0706 support again. The breakout of this barrier will allow bears to continue their medium-term downtrend.

As long as the EUR/USD keeps trading within the descending channel, strong downside potential preserves. Potential decline target is situated at 1.0600.

Alternative scenario:    

Further correction up to test resistance at 1.0815 is probable. The approach to this level will most likely trigger the rebound down.

 

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: trading remains without changes

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

eurusd1

Bulls corrected the price up from 1.0705 support on yesterday’s session. However, the price failed to reach the closest resistance at 1.0815 and turned down.

At the moment the price is approaching 1.0706 support again. The breakout of this barrier will allow bears to continue their medium-term downtrend.

As long as the EUR/USD keeps trading within the descending channel, strong downside potential preserves. Potential decline target is situated at 1.0600.

Alternative scenario:    

Further correction up to test resistance at 1.0815 is probable. The approach to this level will most likely trigger the rebound down.

 

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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