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    Technical analysis for the EURUSD on 13.10.2015

    The EURUSD: the uptrend is weakening

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 105 pips Max. 1.1460
    Min. 1.1215

    eurusd2

    Yesterday’s trading closed with doji candlestick amid low volatility, which suggests the upcoming correction down. Trading is still carried out within the ascending channel, therefore strong bullish potential preserves.

    The uptrend will continue if price breaks resistance at 1.1395. The level will be tested at 12.00, during the release of Germany’s economic sentiment data.

    The breakout of level 1.1395 will allow bulls to push the price further up to the next resistance at 1.1460 – September high.

    Alternative scenario:  

    eurusd11

    If another test of 1.1395 resistance is followed by the false breakout and the price escapes from the ascending channel – we’ll be anticipating correction towards 1.1315 support.

     

    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: the uptrend is weakening

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 105 pips Max. 1.1460
    Min. 1.1215

    eurusd2

    Yesterday’s trading closed with doji candlestick amid low volatility, which suggests the upcoming correction down. Trading is still carried out within the ascending channel, therefore strong bullish potential preserves.

    The uptrend will continue if price breaks resistance at 1.1395. The level will be tested at 12.00, during the release of Germany’s economic sentiment data.

    The breakout of level 1.1395 will allow bulls to push the price further up to the next resistance at 1.1460 – September high.

    Alternative scenario:  

    eurusd11

    If another test of 1.1395 resistance is followed by the false breakout and the price escapes from the ascending channel – we’ll be anticipating correction towards 1.1315 support.

     

    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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