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Technical analysis for the EURUSD on 18.05.2015

The EURUSD is consolidating above the last week’s high of 1.1420

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 1.1550

Min. 1.1300

eurusd11

The uptrend in the EUR/USD preserves, despite volume divergence. Having breached resistance at 1.1420, the price is now consolidating above the last week’s high.

The lower border of the ascending channel (dashed line) crosses the 1.1420 resistance and provides additional support.

Short-term consolidation above 1.1420, followed by the rebound up, may occur. Potential growth targets will be found at 1.1500, 1.1600.

Alternative scenario: short-term correction down is probable if price breaks support at 1.1375.

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 consolidating above the last week’s high of 1.1420

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 120 pips Max. 1.1550

Min. 1.1300

eurusd11

The uptrend in the EUR/USD preserves, despite volume divergence. Having breached resistance at 1.1420, the price is now consolidating above the last week’s high.

The lower border of the ascending channel (dashed line) crosses the 1.1420 resistance and provides additional support.

Short-term consolidation above 1.1420, followed by the rebound up, may occur. Potential growth targets will be found at 1.1500, 1.1600.

Alternative scenario: short-term correction down is probable if price breaks support at 1.1375.

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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