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    Technical analysis for the EURUSD on 09.06.2015

    The EURUSD is getting ready to test the descending trend line at 1.1340

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips

    Max. 1.1455

    Min. 1.1180

    eurusd6

    The dollar’s strengthening on Friday was replaced by the Euro’s active growth. Bulls managed not only to escape from the descending channel, but to break two resistance levels – 1.1180, 1.1260.

    Current growth looks like correction. The Euro strengthened against the dollar at low volume. Key resistance of the descending trend line at 1.1340 is on the way.

    The test of the trend line will be most likely followed by consolidation and the rebound down to the next supports at 1.1260, 1.1180.

    Alternative scenario: the breakout of 1.1355 resistance will bolster further uptrend with the closest growth target at 1.1455.

    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 getting ready to test the descending trend line at 1.1340

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 130 pips

    Max. 1.1455

    Min. 1.1180

    eurusd6

    The dollar’s strengthening on Friday was replaced by the Euro’s active growth. Bulls managed not only to escape from the descending channel, but to break two resistance levels – 1.1180, 1.1260.

    Current growth looks like correction. The Euro strengthened against the dollar at low volume. Key resistance of the descending trend line at 1.1340 is on the way.

    The test of the trend line will be most likely followed by consolidation and the rebound down to the next supports at 1.1260, 1.1180.

    Alternative scenario: the breakout of 1.1355 resistance will bolster further uptrend with the closest growth target at 1.1455.

    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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