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    Technical analysis for the EURUSD on 29.04.2015

    The EURUSD is expected to test strong resistance at 1.1030 for the fourth time

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 170 pips Max. 1.1150

    Min. 1.0825

    eurusd20

    The Euro has been actively strengthening against the US dollar for three consecutive weeks – the dollar in its turn is losing its positions across the board.

    The uptrend is moving into the range of 1.1030 resistance, which has been holding back the bulls for the past seven weeks.

    The test of the 1.1030 level itself is likely to take place at 21.00 during the release of high impact news – FOMC statement, the Federal funds rate announcement.

    The breakout of 1.1030 resistance will allow the bulls to continue the uptrend. Potential growth target will be situated at the intraday resistance of 1.1150.

    Alternative scenario: false breakout of 1.1030 resistance is quite a possibility – the price may rise above the previous highs and then retrace back below the level.

    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 is expected to test strong resistance at 1.1030 for the fourth time

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 170 pips Max. 1.1150

    Min. 1.0825

    eurusd20

    The Euro has been actively strengthening against the US dollar for three consecutive weeks – the dollar in its turn is losing its positions across the board.

    The uptrend is moving into the range of 1.1030 resistance, which has been holding back the bulls for the past seven weeks.

    The test of the 1.1030 level itself is likely to take place at 21.00 during the release of high impact news – FOMC statement, the Federal funds rate announcement.

    The breakout of 1.1030 resistance will allow the bulls to continue the uptrend. Potential growth target will be situated at the intraday resistance of 1.1150.

    Alternative scenario: false breakout of 1.1030 resistance is quite a possibility – the price may rise above the previous highs and then retrace back below the level.

    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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