The EURUSD broke the descending trend line at 1.1060
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 1.1215
Min. 1.0950 |
Correction up in the EUR/USD has strengthened – the price broke the descending trend line at 1.1060 (the channel’s upper border). The escape from the channel suggests increasing bullish interest.
The breakout of the descending trend line has led to the formation of the ascending channel. As long as the channel remains intact, upside potential preserves.
Potential growth targets are situated at the two closest resistance levels of 1.1125, 1.1215.
Alternative scenario: to turn the upside correction down, bears will have to break the ascending channel’s lower border at 1.1000.
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 broke the descending trend line at 1.1060
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 130 pips | Max. 1.1215
Min. 1.0950 |
Correction up in the EUR/USD has strengthened – the price broke the descending trend line at 1.1060 (the channel’s upper border). The escape from the channel suggests increasing bullish interest.
The breakout of the descending trend line has led to the formation of the ascending channel. As long as the channel remains intact, upside potential preserves.
Potential growth targets are situated at the two closest resistance levels of 1.1125, 1.1215.
Alternative scenario: to turn the upside correction down, bears will have to break the ascending channel’s lower border at 1.1000.
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!