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 |
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 |
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!