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    Technical analysis for the EURUSD on 16.07.2015

    The EURUSD is trading at the last week’s low of 1.0915

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 200 pips Max. 1.1115

    Min. 1.0700

    eurusd11

    Bears broke round support at 1.1000 yesterday, which opened the way to the last week’s low at 1.0915 support.

    The price is now consolidating above the 1.0915 support, and will most likely stay there until the release of high impact fundamental news in the Euro zone.

    12.00 – Consumer price index;
    14.45 – interest rate decision;
    15.30 – ECB press-conference;

    If bears manage to break the 1.0915 support amid the news, the price will continue the downtrend with the target at 1.0800, 1.0700.

    Alternative scenario: the breaking of 1.1000 resistance will be a signal for the upside correction.     

    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 trading at the last week’s low of 1.0915

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 200 pips Max. 1.1115

    Min. 1.0700

    eurusd11

    Bears broke round support at 1.1000 yesterday, which opened the way to the last week’s low at 1.0915 support.

    The price is now consolidating above the 1.0915 support, and will most likely stay there until the release of high impact fundamental news in the Euro zone.

    12.00 – Consumer price index;
    14.45 – interest rate decision;
    15.30 – ECB press-conference;

    If bears manage to break the 1.0915 support amid the news, the price will continue the downtrend with the target at 1.0800, 1.0700.

    Alternative scenario: the breaking of 1.1000 resistance will be a signal for the upside correction.     

    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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