Technical analysis of EUR/USD for July 9, 2015 Market Analysis Review

Short overview:

• According to the previous events, the major support is going to set at the level of 1.0950. Moreover, the price had hit the weekly pivot point and support 1 this week at the levels of 10950 and 1.1114. Furthermore, the level of 1.1114 represents the weekly pivot point. Therefore, the EUR/USD pair is going to move between 1.0950 and 1.1114. So, we expect a new range of 164 pips in coming hours. As a result, sell below the level of 1.1114 in the short term with the first target at 1.1030. Moreover, if the trend is able to break the double bottom at 1.10300; it might resume to 1.0955. If the trend is downward, then the strength of the currency will be defined as follows: EUR is in an downtrend and USD is in a uptrend.

Intraday technical levels:

Date:9/07/2015

Pair:EUR/USD

• R3: 1.1239
• R2: 1.1165
• R1: 1.1120
• PP: 1.1046
• S1: 1.1001
• S2: 1.0927
• S3: 1.0882

The material has been provided by InstaForex Company - www.instaforex.com

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