EURUSD 2015-04-30

EUR/ USD

Correction Phase ; a bigger range market

1.1206

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.

Now the market has reached the upper band of our expected trading zone ; however , any penetration for the levels of 1.1250 would be more bullish action to be generated and drive the market to the 1.15 levels (which is now the more probable scenario according the market price action) – in case the market ; failed to continue its short-term uptrend and successfully close above 1.12 , then a correction phase and a re-test for the major support which were broken out on the last session days ( 1.1030 , 1.0888).

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

	Support	Resistence
Level 1	1.1020	1.1250
Level 2	1.0888	1.1367
Level 3	1.0720	1.1517