Forex4you - Analytics

Forex4you

527.00 7.00/10
60% of positive reviews
Real

Technical analysis for the EURUSD on 29.06.2015

The EURUSD: the market opened with a gap

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 215 pips Max. 1.1150

Min. 1.0885

eurusd20

The price mostly consolidated above 1.1150 support last week. All attempts to break below the level were followed by short-term rebounds up.

Bears managed to break below strong support of 1.1150 thanks to the gap. Therefore, medium-term correction up may be now turning down.

It’s very likely that bulls attempt to cover the gap in the next two days. At the moment, however, the price is moving within the descending channel, so further decline is still relevant.

Alternative scenario: the EUR will begin strengthening against the dollar if price breaks resistance at 1.1150.

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: the market opened with a gap

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 215 pips Max. 1.1150

Min. 1.0885

eurusd20

The price mostly consolidated above 1.1150 support last week. All attempts to break below the level were followed by short-term rebounds up.

Bears managed to break below strong support of 1.1150 thanks to the gap. Therefore, medium-term correction up may be now turning down.

It’s very likely that bulls attempt to cover the gap in the next two days. At the moment, however, the price is moving within the descending channel, so further decline is still relevant.

Alternative scenario: the EUR will begin strengthening against the dollar if price breaks resistance at 1.1150.

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!



To leave a comment you must or Join us


By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree