EURUSD 2015-06-05

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EUR/ USD

Short-term Correction ; buying pressure

1.1260

On the short -term the market with correction buying pressure scenario and ranging between 1.1000 and 1.1500 levels.

The market Still trading above 1.1050 level after pushing the price to turn to rise again. Therefore, and break 1.1300 areas as a first main target, noting that breaching this level the market will continuing the bullish trend to the next target at 1.1400 then 1.1500, while the expected rise will remain valid unless breaking 1.1050 level. That stop the suggested bullish trend scenario if closed below 1.1050 level again, so we for the upcoming period as a correction phase and waiting a re-test for the major support which were broken out on the last weeks ( 1.0950 , 1.0800).

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: Down
Weekly Trend: Down

  Support Resistence
Level 1 1.1130 1.1280
Level 2 1.1050 1.1333
Level 3 1.0920 1.1420

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