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Technical analysis for the EURUSD on 18.08.2015

The EURUSD keeps correcting to the downside by innertia

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

Max. 1.1130

Min. 1.0980

eurusd11

Bears broke support at 1.1085 yesterday, which open the way down to 1.1040. This downside correction isn’t supported by trading volumes, the volatility is low.

The test of 1.1040 support will most likely trigger consolidation, followed by the rebound up.

Potential growth targets are situated at the two resistance levels of 1.1085, 1.1130.

Alternative scenario: if price breaks and holds below the 1.1040 support, it will allow bears to continue the downside correction with the next target at 1.0980.

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 keeps correcting to the downside by innertia

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

Max. 1.1130

Min. 1.0980

eurusd11

Bears broke support at 1.1085 yesterday, which open the way down to 1.1040. This downside correction isn’t supported by trading volumes, the volatility is low.

The test of 1.1040 support will most likely trigger consolidation, followed by the rebound up.

Potential growth targets are situated at the two resistance levels of 1.1085, 1.1130.

Alternative scenario: if price breaks and holds below the 1.1040 support, it will allow bears to continue the downside correction with the next target at 1.0980.

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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