Forex4you

EURUSD

Wave analysis

Technical analysis

Fundamental analysis

Complex analysis

   As was supposed, a price broke down strong support range of 95.60/40, but was able to test only level of 95.00/05. For now observes rollback up and test of broken level of 95.60/40, its solidness as a resistance. Indicators views not so rushes to support “bull’s” schemes, R% signified its attempt to turn round up and exit from overselling zone, but SS continues its way down, and MACD though shows raising of histograms, but without certain dynamics, remaining in negative zone. Present picture generates significant doubts in that it will happen a breakdown of testing resistance. In all probability a price will return to its lowering, when it awaits first strong support of a level of 94.90, and in a case of its breakdown – of 94.50/40. In general in this situation there is strong probability of bidding fall to a local minimum of 94.99, 93.80. In the same time if current barrier on a way up will finally broke, then it will obviously be a regular trend line test of upward channel (red lines) in levels area of 96.49/97.00.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst