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    Technical analysis for the EURUSD on 23.11.2015

    The EURUSD has refreshed its last week’s low at 1.0615

    eurusd5

    Bears managed to renew and hold below the last week’s low of 1.0615. Еще недавно выступающая поддержка уже играет в роли опорного сопротивления.

    How strong this barrier turns out, we’ll find out after the release of Germany’s Manufacturing activity data.

    Short-term breakout up and the test of 1.0675 resistance may occur amid the release. Then, the price is expected to rebound down to the next targets at 1.0600, 1.0500.

    Alternative scenario:

    The downtrend will turn up if price breaks resistance at 1.0675. The breaking will allow bulls to push the price higher to the last week’s high at 1.0765.

     

    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 has refreshed its last week’s low at 1.0615

    eurusd5

    Bears managed to renew and hold below the last week’s low of 1.0615. Еще недавно выступающая поддержка уже играет в роли опорного сопротивления.

    How strong this barrier turns out, we’ll find out after the release of Germany’s Manufacturing activity data.

    Short-term breakout up and the test of 1.0675 resistance may occur amid the release. Then, the price is expected to rebound down to the next targets at 1.0600, 1.0500.

    Alternative scenario:

    The downtrend will turn up if price breaks resistance at 1.0675. The breaking will allow bulls to push the price higher to the last week’s high at 1.0765.

     

    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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