EURUSD 2015-04-16

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Correction Phase ; Downside Breakout


On the short -term the market the market still ranging between 1.05 and 1.12 levels as awaiting a more data to decide the new mid-term direction ; those levels considered critical for short-term traders . The breakout direction is on the downside which means the continuation of the major down-trend ; 1.040/1.0350 the coming target for the technical view.In case market has succesfully on the coming trading session to be traded higher than 1.08 then the market clearly in trading range between 1.05 and 1.10 ; then we would ride the breakout of one of the two levels mentioned.

On the longer-term view : the market on the down trend driven by a lot of factors ; moreover , a levels below 1.04s es expected and parity exchange rate would be in the next half of 2015.

Daily Trend: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.0580 1.0720
Level 2 1.0420 1.0813
Level 3 1.0367 1.0950


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