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    Technical analysis for the EURUSD on 08.07.2015

    The EURUSD is correcting to the upper border of the descending channel at 1.1100

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 180 pips Max. 1.1200

    Min. 1.0880

    eurusd5

    Bears renewed the last week’s low at 1.0954 yesterday, but failed to hold below 1.0955 support. Short-term breakout of the barrier was followed by the retracement above the level.

    The Euro is currently correcting up against the US dollar ahead of the FOMC meeting minutes at 21.00. Potential growth target is situated at the upper border of the descending channel – 1.1100.

    If bulls fail to exit the descending channel amid the news, bearish trend will continue. The main decline targets will be found at 1.0955, 1.0885.

    Alternative scenario: the downtrend will turn up if price breaks the upper border of the descending channel at 1.1100.

     

    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 correcting to the upper border of the descending channel at 1.1100

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 180 pips Max. 1.1200

    Min. 1.0880

    eurusd5

    Bears renewed the last week’s low at 1.0954 yesterday, but failed to hold below 1.0955 support. Short-term breakout of the barrier was followed by the retracement above the level.

    The Euro is currently correcting up against the US dollar ahead of the FOMC meeting minutes at 21.00. Potential growth target is situated at the upper border of the descending channel – 1.1100.

    If bulls fail to exit the descending channel amid the news, bearish trend will continue. The main decline targets will be found at 1.0955, 1.0885.

    Alternative scenario: the downtrend will turn up if price breaks the upper border of the descending channel at 1.1100.

     

    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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