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    Technical analysis for the EURUSD on 13.07.2015

    The EURUSD: downtrend is turning up

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 140 pips Max. 1.1280

    Min. 1.1000

    eurusd8

    The price broke the descending trend line at 1.1060 on Friday. The breakout of the trend line allowed the bulls to turn the downtrend up.

    Besides the 1.1060trend line, bulls also broke strong resistance at 1.1115, above which consolidation is currently observed. Level 1.1115 is now acting as support, where from the price is very likely to rebound up.

    Potential growth targets are situated at two strong resistance of 1.1215, 1.1280. The test of one of these levels may trigger consolidation.

    Alternative scenario: the breaking of the ascending channel’s lower border at 1.1060 will allow the bears to continue the downtrend.

    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: downtrend is turning up

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 140 pips Max. 1.1280

    Min. 1.1000

    eurusd8

    The price broke the descending trend line at 1.1060 on Friday. The breakout of the trend line allowed the bulls to turn the downtrend up.

    Besides the 1.1060trend line, bulls also broke strong resistance at 1.1115, above which consolidation is currently observed. Level 1.1115 is now acting as support, where from the price is very likely to rebound up.

    Potential growth targets are situated at two strong resistance of 1.1215, 1.1280. The test of one of these levels may trigger consolidation.

    Alternative scenario: the breaking of the ascending channel’s lower border at 1.1060 will allow the bears to continue the downtrend.

    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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