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    Technical analysis for the EURUSD on 06.07.2015

    The EURUSD is testing the ascending trend line of 1.0990

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 155 pips Max. 1.1135

    Min. 1.0900

    eurusd3

    Two-week downtrend in the EUR/USD halted at the ascending trend line of 1.0990. Short-term test of the barrier took place at low volumes and was followed by the rebound up.

    The gap is additional signal in favor of growth. In most cases the gap is covered. Before it happens, however, the price may consolidate above the 1.0990 trend line for some time.

    Potential targets for the rebound from the ascending trend line are situated at 1.1030, 1.1100, 1.1135.

    Alternative scenario: to continue the downtrend, bears have to break and hold below 1.0955 support.

    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 testing the ascending trend line of 1.0990

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 155 pips Max. 1.1135

    Min. 1.0900

    eurusd3

    Two-week downtrend in the EUR/USD halted at the ascending trend line of 1.0990. Short-term test of the barrier took place at low volumes and was followed by the rebound up.

    The gap is additional signal in favor of growth. In most cases the gap is covered. Before it happens, however, the price may consolidate above the 1.0990 trend line for some time.

    Potential targets for the rebound from the ascending trend line are situated at 1.1030, 1.1100, 1.1135.

    Alternative scenario: to continue the downtrend, bears have to break and hold below 1.0955 support.

    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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