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    Technical analysis for the EURUSD on 27.07.2015

    The EURUSD is correcting to the descending trend line at 1.1060

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 125 pips Max. 1.1100

    Min. 1.0900

    eurusd17

    The Euro has been recovering against the US dollar for the fifth consecutive day. The main target for the upside correction is situated at the descending trend line of 1.1060 – the upper border of the descending channel.

    The test of the 1.1060 mark will most likely occur during the release of fundamental data from the Euro area (Germany – IFO business climate, Current assessment).

    If bulls fail to break above the trend line amid the news, the price will rebound down and the downtrend will recommence. Potential decline targets in this case will be situated at 1.0970, 1.0915, 1.0870.

    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 correcting to the descending trend line at 1.1060

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 125 pips Max. 1.1100

    Min. 1.0900

    eurusd17

    The Euro has been recovering against the US dollar for the fifth consecutive day. The main target for the upside correction is situated at the descending trend line of 1.1060 – the upper border of the descending channel.

    The test of the 1.1060 mark will most likely occur during the release of fundamental data from the Euro area (Germany – IFO business climate, Current assessment).

    If bulls fail to break above the trend line amid the news, the price will rebound down and the downtrend will recommence. Potential decline targets in this case will be situated at 1.0970, 1.0915, 1.0870.

    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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