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    Technical analysis for the EURUSD on 04.08.2015

    The EURUSD: corrective pullback up is expected

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 125 pips Max. 1.100

    Min. 1.0815

    eurusd1

    Low volatility is observed in the EUR/USD pair. The price is falling at low volumes, and has now approached strong 1.0925 support.

    Long consolidation is expected to commence above the 1.0925 support, which will be then followed by corrective rebound up.

    Potential correction targets are situated at 1.1020 resistance and the descending trend line of 1.1085. The test of the trend line will most likely turn the upside correction down.

    Alternative scenario: to continue the downtrend from current positions, bears have to break below 1.0925 support, which will open the way towards 1.0870, 1.0815.

    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: corrective pullback up is expected

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 125 pips Max. 1.100

    Min. 1.0815

    eurusd1

    Low volatility is observed in the EUR/USD pair. The price is falling at low volumes, and has now approached strong 1.0925 support.

    Long consolidation is expected to commence above the 1.0925 support, which will be then followed by corrective rebound up.

    Potential correction targets are situated at 1.1020 resistance and the descending trend line of 1.1085. The test of the trend line will most likely turn the upside correction down.

    Alternative scenario: to continue the downtrend from current positions, bears have to break below 1.0925 support, which will open the way towards 1.0870, 1.0815.

    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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