EURUSD
1.1100
Higher Volatility,,
On short-Term the market is ranging between the levels of 1.08 and 1.14, The market breached 1.1100 level again, which activates the positive scenario to target testing 1.1250 level as a first main target. and it is important to note that breaching the targeted level will extend the bullish wave to reach 1.1400 areas, while the expected rise will remain valid unless breaking 1.10 level and holding below it. any penetration of the market of one of those levels would push the market further on the breakout direction. where breaking the 1.10 support will extend the bearish correction to reach 1.0800 levels initial, then 1.0660 and extend to 1.0520 in case breaking the previous level.
The downside breakout would be to test the levels of 1.04s (The lowest level of 2015) and the market then would await any penetration of that bottom which would push the market to the parity exchange.
However, the bullish scenario would be confirmed by the breaking the 1.15s rate on the short-term, crossing this pivotal level would push market toward 1.18 / 1.20 respectively.
The Technical analysis and patterns which is indicated on the above chart for a short to mid – term view
Daily Trend: Down
Weekly Trend: Down
| Support | Resistence | |
| Level 1 | 1.1080 | 1.1250 |
| Level 2 | 1.0980 | 1.1380 |
| Level 3 | 1.0880 | 1.1500 |
