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Technical analysis for the EURUSD on 06.05.2015

The EURUSD is expected to test 1.1270 resistance again

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 180 pips Max. 1.1410

Min. 1.1085

eurusd3

Three-day correction in the Euro has turned up. The reversal occurred after the false breakout of 1.1085 support at high volume.

Today we expect the price to test the resistance level of 1.1270.

How strong this barrier turns out, we’ll find out after the release of the US Non-Farm payrolls at 15.15 and Fed president Yellen’s speech at 16.15.

The breakout will open the way up to levels: 1.1300, 1.1410

Alternative scenario: false test of 1.1270 resistance, followed by consolidation.

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 1.1270 resistance again

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 180 pips Max. 1.1410

Min. 1.1085

eurusd3

Three-day correction in the Euro has turned up. The reversal occurred after the false breakout of 1.1085 support at high volume.

Today we expect the price to test the resistance level of 1.1270.

How strong this barrier turns out, we’ll find out after the release of the US Non-Farm payrolls at 15.15 and Fed president Yellen’s speech at 16.15.

The breakout will open the way up to levels: 1.1300, 1.1410

Alternative scenario: false test of 1.1270 resistance, followed by consolidation.

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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