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    Technical analysis for the EURUSD on 21.07.2015

    The EURUSD is consolidating at 1.0820 support

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 100 pips Max. 1.0920

    Min. 1.0700

    eurusd13

    The downtrend in the EUR/USD gives signals for corrective reversal, judging by low volumes and recent exit from the descending channel.

    Short-term consolidation is now observed above 1.0820 support. The longer this consolidation lasts, the bigger will be the rebound up that’ll follow.

    Potential growth target is situated at strong resistance of 1.0920. The test of this level may hold back further correction and bolster medium-term bearish trend: 1.0800, 1.0750, 1.0700.

    Alternative scenario: downtrend will continue, if price breaks and holds below 1.0820 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 consolidating at 1.0820 support

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 100 pips Max. 1.0920

    Min. 1.0700

    eurusd13

    The downtrend in the EUR/USD gives signals for corrective reversal, judging by low volumes and recent exit from the descending channel.

    Short-term consolidation is now observed above 1.0820 support. The longer this consolidation lasts, the bigger will be the rebound up that’ll follow.

    Potential growth target is situated at strong resistance of 1.0920. The test of this level may hold back further correction and bolster medium-term bearish trend: 1.0800, 1.0750, 1.0700.

    Alternative scenario: downtrend will continue, if price breaks and holds below 1.0820 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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