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Technical analysis for the EURUSD on 21.05.2015

The EURUSD is consolidating below 1.1145 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 220 pips Max. 1.1270

Min. 1.0900

eurusd14

Slack trading was observed yesterday. Having breached support at 1.1145, the Euro consolidated below this level for the whole session.

Continuing consolidation is usually followed by the rebound down. However, taking into account today’s speech of the ECB president Mario Draghi at 20.30, it’s hard to predict future development.

If another test of the 1.1145 resistance fails, the price will bounce down towards 1.1030, 1.0965, 1.0900.

Alternative scenario: correction up will commence if price breaks resistance at 1.1145.

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 below 1.1145 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 220 pips Max. 1.1270

Min. 1.0900

eurusd14

Slack trading was observed yesterday. Having breached support at 1.1145, the Euro consolidated below this level for the whole session.

Continuing consolidation is usually followed by the rebound down. However, taking into account today’s speech of the ECB president Mario Draghi at 20.30, it’s hard to predict future development.

If another test of the 1.1145 resistance fails, the price will bounce down towards 1.1030, 1.0965, 1.0900.

Alternative scenario: correction up will commence if price breaks resistance at 1.1145.

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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