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Technical analysis for the EURUSD on 12.05.2015

Downside correction in the EURUSD has turned up

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 135 pips Max. 1.1275

Min. 1.1025

eurusd7

Three-day decline of the Euro against the US dollar has halted at 1.1140 support. Short-term consolidation at this level triggered the rebound up.

Like yesterday, today’s trading day is lacking any significant fundamental news, so we expect low volatile ascending structure.

The closest growth target is situated at 1.12275 resistance. If bulls manage to push the price even higher, the next target will be found at 1.1375.

Alternative scenario: the breaking of 1.1140 support will open the way down to 1.1085, 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!

Downside correction in the EURUSD has turned up

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 135 pips Max. 1.1275

Min. 1.1025

eurusd7

Three-day decline of the Euro against the US dollar has halted at 1.1140 support. Short-term consolidation at this level triggered the rebound up.

Like yesterday, today’s trading day is lacking any significant fundamental news, so we expect low volatile ascending structure.

The closest growth target is situated at 1.12275 resistance. If bulls manage to push the price even higher, the next target will be found at 1.1375.

Alternative scenario: the breaking of 1.1140 support will open the way down to 1.1085, 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!



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