Technical Outlook For Eur-USD 9-7-2015

Technical Outlook For Eur-USD 9-7-2015

Technical Outlook For Eur-USD

Eur/Usd pair moved last Friday in the average price movement of 100 Pips, it recorded the highest level at 1.1190 and the lowest at 1.1089 and closed at 1.1142 to Gain 26 Pips during Friday’s trading after Non-Farm Employment Change and Unemployment Rate data.

The pair opened today at 1.1156 oscillatory between the 1.1140 and the 1.1174 levels during Asian session in a trading average of 34 pips for the limitation of the market liquidity and then the pair declined to 1.1120.

The pair is moving in a series of down corrective waves after breaking the price channel.

It is expected that the pair eur /usd will reach the targeted level at 1.1085 in the next few hours.

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

Medium term trend: Down

Support levels: 1.1090 and 1.1039 and 1.0989

Resistance levels: 1.1191 and 1.1241 and 1.1292

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