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    Technical analysis for the EURUSD on 09.07.2015

    The EURUSD is testing the descending trend line at 1.1085

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 140 pips Max. 1.1225

    Min. 1.0955

    eurusd6

    The Euro has been correcting against the dollar for two days after false breakout of 1.0955 support. Corrective growth allowed the bulls to approach the descending trend line at 1.1085.

    Current test of the trend line at 1.1085 is followed by the breakout. If bulls manage to hold above this barrier by the end of the European session, we’ll be expecting further growth.

    Potential growth targets are: 1.1135 resistance, upper border of the descending channel 1.1225

    Alternative scenario: to continue the downtrend, bears have to break below 1.1030 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 descending trend line at 1.1085

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 140 pips Max. 1.1225

    Min. 1.0955

    eurusd6

    The Euro has been correcting against the dollar for two days after false breakout of 1.0955 support. Corrective growth allowed the bulls to approach the descending trend line at 1.1085.

    Current test of the trend line at 1.1085 is followed by the breakout. If bulls manage to hold above this barrier by the end of the European session, we’ll be expecting further growth.

    Potential growth targets are: 1.1135 resistance, upper border of the descending channel 1.1225

    Alternative scenario: to continue the downtrend, bears have to break below 1.1030 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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