Correction Phase ; a bigger range market
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.
Note that the expected rise requires holding above 1.0820 , reinforcing the expectations to continue the bullish trend in the upcoming period, and as we expected the EURUSD breach 1.0900 level, but if settle above this level, which encourages us to keep preferring the bullish trend in the upcoming period, waiting for the extension of the bullish wave towards 1.1000, moreover , the market is ranging widely awaiting for confirmed breakout – so , uncertainty about the mid-term direction is greatly increasing .
On the longer-term view : the market on the down trend driven by a lot of factors ; moreover , a levels below 1.04s is expected and parity exchange rate would be in the next half of 2015.
Daily Trend: Up
Weekly Trend: Down