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    Technical analysis for the EURUSD on 24.04.2015

    The EURUSD: the downtrend has turned up

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 160 pips Max. 1.1030

    Min. 1.0730

    eurusd17

    The bulls succeeded to break above the descending trend line of 1.0730 with the second attempt. The breakout occurred at high volume, which suggests continuation of the uptrend.

    The trend line was the key resistance for the bearish trend. Its breakout indicates the reversal of the current down trend and at the beginning of at least a good correction up.

    To confirm further growth, bulls have to break and hold above the last week’s high – level 1.0820. The breakout, of occurs, will open the way to 1.0870, 1.0900, 1.1030.

    Alternative scenario: correction down to the lower border of the ascending trend line at 1.0730 is probable.

    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: the downtrend has turned up

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 160 pips Max. 1.1030

    Min. 1.0730

    eurusd17

    The bulls succeeded to break above the descending trend line of 1.0730 with the second attempt. The breakout occurred at high volume, which suggests continuation of the uptrend.

    The trend line was the key resistance for the bearish trend. Its breakout indicates the reversal of the current down trend and at the beginning of at least a good correction up.

    To confirm further growth, bulls have to break and hold above the last week’s high – level 1.0820. The breakout, of occurs, will open the way to 1.0870, 1.0900, 1.1030.

    Alternative scenario: correction down to the lower border of the ascending trend line at 1.0730 is probable.

    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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