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| Technical Outlook for Eur-Usd 16-7-2015 |
Eur/Usd pair moved yesterday in the average price movement of 106 Pips, it recorded the highest level at 1.1035 and the lowest at 1.0929 and closed at 1.0946 to Lose 60 PIPs during yesterday’s trading after positive economic data from USA
The pair opened today at 1.0946 oscillatory between the 1.0920 and the 1.0962 levels during the Asian session in a trading average of 42 pips for the limitation of the market liquidity.
The pair is moving in a series of down corrective waves after breaking the price channel, and we saw the pair retested the broken limit, so it is expected to fall down to lows again.
It is expected that the pair Eur/Usd will reach the targeted level at 1.0850 in the next few hours.
Today at 11:45 we are looking for Minimum Bid Rate from Europe.
The Relative Strength Indicator "RSI" reveals the distribution operations at the market and till now we are seeing the control of Bears on the market.
Medium term trend: Down
Support levels: 1.0905 and 1.0864 and 1.0799
Resistance levels: 1.1011 and 1.1076 and 1.1117
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