Analysis and forecasts for the pair EUR / USD on 28/06 / 16- Bre

FX:EURUSD   Euro / U.S. Dollar
Fundamental analysis is not conducive at the moment increases (Brexit, independence of Scotland), but we can not rule them out. On the markets, the situation begins to stabilize and demand side is trying to take the initiative. At the moment the currency pair is oscillating in the zone of resistance 1,1058-80, which correspond to minima of 14 and 15 March. Overcoming this zone will demand, to attack towards Tuesday's high of 1.1111. A further aim of the camp, the bulls will be the resistance zone extending between 1,1168-88 (38.2% sequentially and 50% fibo recent declines and the peak of 24 June). Especially this zone should be a strong barrier to demand.

Considering the uncertainty that surrounds markets at the moment, it's hard to predict whether any upward movement is the beginning of bigger increases, or merely a correction in further declines. If I had to define clearly personally I assume that it is a corrective movement, after which we will see another wave of declines. Accordingly, the levels of 1,1168-88 may be a great opportunity to play for a short time. Whereas the puncture resistance of these will open the way towards recent highs. However, this option now seems unrealistic.

In the case of the next wave of declines, we will return towards the last low of 1.1013 and then the supply will head towards 1.0971 and 1.0909. In a more pessimistic version of the Eurodollar market may experience decreases even in the area 1,0810-1,0825.

In my opinion, a variant of the local correction and further declines seem to be more likely.
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