Technical analysis for the EURUSD on 27.11.2015


The EURUSD: no changes


The EUR/USD pair traded at low volumes and amid low volatility yesterday. In a short run, the downtrend is demonstrating weakening.

Despite high possibility of correction up, trading is carried out below strong resistance of 1.0615. As long as this barrier holds back further growth, downside potential preserves.

If bulls manage to push the price above the 1.0615 mark, the next growth target will be situated at the upper border of the descending channel – level 1.0685. Then, it’ll most likely rebound down and the medium-term downtrend will continue.

Alternative scenario:  

The bearish trend will turn up for correction if price breaks the descending channel’s upper border at 1.0685. The exit from the channel will allow bulls to correct the price up to 1.0765 resistance.


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Hello, my name is Artem. If you ask me “Why have you chosen Forex?”, I would quote a legendary bestseller “Trading for a Living” written by Alexander Elder – the greatest trader of all time: “You can be free. Live and work in any corner of the globe. You can set aside everyday troubles and be free from all bosses. This is the life of a successful trader”(a small step aside.) Now I will tell you a few words about myself: I have a two-year experience of Forex trading. I also have a trading certificate confirming that I have passed a course called “Theory and practice of international financial markets” held by a private consulting company. Currently, I’m trading in a foreign exchange market and reading books written by successful world traders. I believe only in technical analysis, as it is based on crowd psychology, while the crowd behavior is primitive.