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    Technical analysis for the EURUSD on 24.11.2015

    The EURUSD: false breakout of 1.0615 support

    eurusd6

    Bears attempted to break and hold below strong support of 1.0615 yesterday. The price tested this mark and refreshed the previous low, but failed to break it.

    Low volumes and weak volatility, false breakout of 1.0615 support — all these are clear signals in favor of correction. Before the correction occurs, bears will most likely test the above mentioned support again.

    The test will most likely take place at 10.00, during the release of Germany’s GDP data. If bears fail to break the barrier, the price will rebound up to the targets at: 1.0675, 1.0700, 1.0765.

    Alternative scenario:  

    Medium-term bearish trend will continue if price breaks support at 1.0615. The breakout will open the way to 1.0500.

     

    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: false breakout of 1.0615 support

    eurusd6

    Bears attempted to break and hold below strong support of 1.0615 yesterday. The price tested this mark and refreshed the previous low, but failed to break it.

    Low volumes and weak volatility, false breakout of 1.0615 support — all these are clear signals in favor of correction. Before the correction occurs, bears will most likely test the above mentioned support again.

    The test will most likely take place at 10.00, during the release of Germany’s GDP data. If bears fail to break the barrier, the price will rebound up to the targets at: 1.0675, 1.0700, 1.0765.

    Alternative scenario:  

    Medium-term bearish trend will continue if price breaks support at 1.0615. The breakout will open the way to 1.0500.

     

    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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