ISSN: 2056-3736 (Online Version) | 2056-3728 (Print Version)


Being contained by the bottom of the price channel on daily chart, EUR/USD rebounded from 1.0819, indicating that the pair remains in short term uptrend from 1.0462. Another rise to test 1.1533 resistance would likely be seen, a break of this level will signal completion of the long term downtrend from 1.3993 (May 8, 2014 high). On the downside, a breakdown below 1.0819 level will confirm that the short term uptrend from 1.0462 is complete, then next target would be at 1.0600 area.

EUR_USD Euro _ US Dollar

By Theodoros  Batsoulis
Technical Analyst
Risk Market