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Technical analysis for the EURUSD on 24.08.2015

The EURUSD has held above 1.1435 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 1.1500

Min. 1.1300

eurusd15

The Euro kept strengthening against the US dollar at the very opening of the session as the bulls pushed the price 130 pips higher, breaking tough resistance of 1.1435 on the way.

Trading volumes are increased. The US dollar is currently falling against its major opponents, so the bullish trend will most likely continue.

In a short-run, we expect a pullback down into the lower border of the ascending channel at 1.1370, which will be then followed by the rebound up and retracement towards 1.1500.

Alternative scenario: the exit from the ascending channel (breakout of level 1.1370) will trigger correction down with the target at 1.1300.

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 has held above 1.1435 resistance

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 150 pips Max. 1.1500

Min. 1.1300

eurusd15

The Euro kept strengthening against the US dollar at the very opening of the session as the bulls pushed the price 130 pips higher, breaking tough resistance of 1.1435 on the way.

Trading volumes are increased. The US dollar is currently falling against its major opponents, so the bullish trend will most likely continue.

In a short-run, we expect a pullback down into the lower border of the ascending channel at 1.1370, which will be then followed by the rebound up and retracement towards 1.1500.

Alternative scenario: the exit from the ascending channel (breakout of level 1.1370) will trigger correction down with the target at 1.1300.

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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