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    Technical analysis for the EUR/USD on 19.10.2015

    As we expected, the pair rose to 1.1440/20 and attempted to break this barrier on the way up. The attempt ended up with the false breakout, the price feiled to hold above the mark and retraced back down. At the moment the pair is trading in a narrow sideways range, between 1.1380-1.1330/20 levels. Such development suggests weakening bullish potential and increased possibility for the downside movement. The indicators support these expectations — SS is turned down, R% is oversold, MACD is about to sep into the “red zone”. However, there’s a significant support at 1.1300/10 on the way down – this barrier has all chances to hold back the bears and keep them at the current levels for a while. In these conditions, we expect the price to keep moving sidewaway. The resistance of current consolidation range may raise up to 1.1420.  The breakout of the 1.1300/10 support will be a signal for growing downside potential. The final confirmation of the “bearish” victory will be received when the price breaks support at 1.1230/20.

    EUR191015

     

    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!

    As we expected, the pair rose to 1.1440/20 and attempted to break this barrier on the way up. The attempt ended up with the false breakout, the price feiled to hold above the mark and retraced back down. At the moment the pair is trading in a narrow sideways range, between 1.1380-1.1330/20 levels. Such development suggests weakening bullish potential and increased possibility for the downside movement. The indicators support these expectations — SS is turned down, R% is oversold, MACD is about to sep into the “red zone”. However, there’s a significant support at 1.1300/10 on the way down – this barrier has all chances to hold back the bears and keep them at the current levels for a while. In these conditions, we expect the price to keep moving sidewaway. The resistance of current consolidation range may raise up to 1.1420.  The breakout of the 1.1300/10 support will be a signal for growing downside potential. The final confirmation of the “bearish” victory will be received when the price breaks support at 1.1230/20.

    EUR191015

     

    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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