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    Technical analysis for the EURUSD on 30.07.2015

    The EURUSD: the uptrend has turned down

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 160 pips Max. 1.1080

    Min. 1.0810

    eurusd20

    Two-week growth of the Euro against the US dollar gave signals for the reversal down as the price broke support at 1.1015. The breakout took place at high volume, which means that bears are gaining potential.

    Level 1.1015 is currently acting as strong resistance. In a short run, we expect a slight correction towards this mark, followed by consolidation.

    The more the price consolidates below the resistance, the bigger are the chances of a bounce down. Potential decline targets are situated at 1.0915, 1.0870, 1.0810.

    Alternative scenario: possible consolidation below 1.1015 resistance.

    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: the uptrend has turned down

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 160 pips Max. 1.1080

    Min. 1.0810

    eurusd20

    Two-week growth of the Euro against the US dollar gave signals for the reversal down as the price broke support at 1.1015. The breakout took place at high volume, which means that bears are gaining potential.

    Level 1.1015 is currently acting as strong resistance. In a short run, we expect a slight correction towards this mark, followed by consolidation.

    The more the price consolidates below the resistance, the bigger are the chances of a bounce down. Potential decline targets are situated at 1.0915, 1.0870, 1.0810.

    Alternative scenario: possible consolidation below 1.1015 resistance.

    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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