The EURUSD: downside correction continues
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 1.1275
Min. 1.1025 |
Having breached intermediate support at 1.1275, bears continued pushing the price down at increased volume.
Today we expect the price to test strong support at 1.1085, which has already held back the bears twice in the last two weeks.
With no significant fundamental data to be released, the test of 1.1085 support will most likely trigger consolidation.
Alternative scenario: if bears manage to break support at 1.1085, it will open the way down to the strong support at 1.1025.
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: downside correction continues
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 1.1275
Min. 1.1025 |
Having breached intermediate support at 1.1275, bears continued pushing the price down at increased volume.
Today we expect the price to test strong support at 1.1085, which has already held back the bears twice in the last two weeks.
With no significant fundamental data to be released, the test of 1.1085 support will most likely trigger consolidation.
Alternative scenario: if bears manage to break support at 1.1085, it will open the way down to the strong support at 1.1025.
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!