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Technical analysis for the EURUSD on 31.08.2015

The EURUSD rebounded from the ascending trend line of 1.1155

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 135 pips Max. 1.1310

Min. 1.1100

eurusd20

Five-day downside correction in the EUR/USD has halted around the ascending trend line of 1.1210. The test of the trend line took place amid strong divergence and was followed by the rebound up.

The price is currently breaking the upper border of the descending channel at 1.12135. The exit from the channel indicates the reversal of the downtrend.

Potential growth targets will be found at 1.1310, 1.1390 resistance levels.

Alternative scenario: the breakout of 1.1130 support will open the way down to the next target at 1.1020.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

The EURUSD rebounded from the ascending trend line of 1.1155

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 135 pips Max. 1.1310

Min. 1.1100

eurusd20

Five-day downside correction in the EUR/USD has halted around the ascending trend line of 1.1210. The test of the trend line took place amid strong divergence and was followed by the rebound up.

The price is currently breaking the upper border of the descending channel at 1.12135. The exit from the channel indicates the reversal of the downtrend.

Potential growth targets will be found at 1.1310, 1.1390 resistance levels.

Alternative scenario: the breakout of 1.1130 support will open the way down to the next target at 1.1020.

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!



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