Technical Analysis for Eur-Usd 8-7-2015

Technical Analysis for  Eur-Usd  8-7-2015

Eur/Usd pair moved yesterday in the average price movement of 141 Pips, it recorded the highest level at 1.1055 and the lowest at 1.0915 and closed at 1.0996 to Lose 58 Pips according to yesterday’s economic data.

The pair opened today at 1.0996 oscillatory between the 1.0978 and the 1.1020 levels during the Asian session in a trading average of 40 pips for the limitation of the market liquidity.

The pair is moving in a series of down corrective waves after breaking the price channel, and we saw the pair retested the broken limit but Without result, so it is expected to fall down to new lows.

Now the pair is facing a resistance area which will back from it

The pair achieved our target yesterday at 1.0930

It is expected that the pair eur /usd will reach the targeted level at 1.0910 in the next few hours.

Today at 18:00 we are looking for FOMC Meeting Minutes

The Relative Strength Indicator "RSI" reveals the distribution operations at the market and till now we are seeing the control of Bears on the market.

Medium term trend: Down

Support levels: 1.0922 and 1.0848 and 1.0782

Resistance levels: 1.1062 and 1.1128 and 1.1202

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