The EURUSD: downtrend is expected to continue
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 110 pips | Max. 1.1270
Min. 1.1030 |
The Euro has been correcting to the downside against the US dollar for the third day in a row. Decline isn’t supported by trading volumes and the volatility is low.
Having breached 1.1145 support and the lower border of the ascending channel 1.1145, bears are now getting ready to proceed into the range of tough support at 1.1030. The barrier will be most likely tested on today’s session.
The 1.1030 mark provides strong support – its test can trigger consolidation, followed by the reversal of the downside correction.
Alternative scenario: continuing consolidation above 1.1030 support 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: downtrend is expected to continue
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 110 pips | Max. 1.1270
Min. 1.1030 |
The Euro has been correcting to the downside against the US dollar for the third day in a row. Decline isn’t supported by trading volumes and the volatility is low.
Having breached 1.1145 support and the lower border of the ascending channel 1.1145, bears are now getting ready to proceed into the range of tough support at 1.1030. The barrier will be most likely tested on today’s session.
The 1.1030 mark provides strong support – its test can trigger consolidation, followed by the reversal of the downside correction.
Alternative scenario: continuing consolidation above 1.1030 support 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!