Technical Outlook For Eur-Usd 7-7-2015

Technical Outlook For Eur-Usd 7-7-2015

Eur/Usd pair moved yesterday in the average price movement of 116 PIPs, it recorded the highest level at 1.1097 and the lowest at 1.0981 and closed at 1.1054 to Gain 71 PIPs according to yesterday’s economic data to close the gap over.

The pair opened today at 1.1054 oscillatory between the 1.1024 and the 1.1055 levels during the Asian session in a trading average of 30 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 yesterday the pair retested the broken limit but Without result, so it is expected to fall down to new lows.

The pair achieved our target yesterday at 1.1010

It is expected that the pair eur /usd will reach the targeted level at 1.0930 in the next few hours.

Today at 12:30 we are looking for Trade Balance from USA

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: 1.0991 and 1.0928 and 1.0875

Resistance levels: 1.1107 and 1.1160 and 1.1223

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