The EURUSD is consolidating above the tough support of 1.1000
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 135 pips | Max. 1.1115
Min. 1.0900 |
The price refreshed its previous low at 1.0991 yesterday after the false breakout of 1.1000 support. The breakout occurred at low volumes and was followed by the pullback up.
The price is currently consolidating above the round support of 1.1000. The longer the price stays above this level, the bigger is the possibility of the rebound up.
Potential growth target is situated at the closest resistance of 1.1115.
Alternative scenario: downtrend will continue if price breaks and holds below 1.1000 support. Decline targets in this case will be found at 1.0915 — 1.0900.
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 consolidating above the tough support of 1.1000
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 135 pips | Max. 1.1115
Min. 1.0900 |
The price refreshed its previous low at 1.0991 yesterday after the false breakout of 1.1000 support. The breakout occurred at low volumes and was followed by the pullback up.
The price is currently consolidating above the round support of 1.1000. The longer the price stays above this level, the bigger is the possibility of the rebound up.
Potential growth target is situated at the closest resistance of 1.1115.
Alternative scenario: downtrend will continue if price breaks and holds below 1.1000 support. Decline targets in this case will be found at 1.0915 — 1.0900.
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!