Forex4you - Analytics

Forex4you

514.75 7.25/10
57% of positive reviews
Real

Technical analysis for the EURUSD on 13.11.2015

The EURUSD: upside correction has halted at 1.0810 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 180 pips Max. 1.1000
Min. 1.0600

eurusd4

The price broke the upper border of the descending channel at 1.0755 after a long consolidation above 1.0705 support. The exit from the channel suggests further correction up.

To confirm further growth, bull have to break above two significant resistance levels: 1.0810 and 1.0850. The tests of these barriers are expected to take place at 10.00 today, during the release of the Eurozone’s GDP data.

If the price fails to break these resistance levels amid the release of the news, it’ll most likely rebound down to 1.0705 support. The breakout of this level will allow bears to continue their medium-term bearish trend to the next target at 1.0600.

Alternative scenario:

The breakout of 1.0850 resistance will trigger continuation of the upside correction with potential growth targets situated at 1.0900, 1.1000.

 

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: upside correction has halted at 1.0810 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 180 pips Max. 1.1000
Min. 1.0600

eurusd4

The price broke the upper border of the descending channel at 1.0755 after a long consolidation above 1.0705 support. The exit from the channel suggests further correction up.

To confirm further growth, bull have to break above two significant resistance levels: 1.0810 and 1.0850. The tests of these barriers are expected to take place at 10.00 today, during the release of the Eurozone’s GDP data.

If the price fails to break these resistance levels amid the release of the news, it’ll most likely rebound down to 1.0705 support. The breakout of this level will allow bears to continue their medium-term bearish trend to the next target at 1.0600.

Alternative scenario:

The breakout of 1.0850 resistance will trigger continuation of the upside correction with potential growth targets situated at 1.0900, 1.1000.

 

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!



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree