Waiting for the attack of support 1.0893 | 31 July 2015
31 July 2015, EUR/USD
Daily chart: Bears are pulling their swing in the direction of the massive support area 1.0808-1.0817 quite confidently.
.png "Waiting for the attack of support 1.0893")
Hourly chart bulls did not show a proper potential, although they have chances of a reversal due to a very short downward swing, which has been already provided. However, we must wait for the downtrend to continue.
.png "Waiting for the attack of support 1.0893")
Scenario:
1) decline under 1.0893 and target is 1.0817.
2) Inability to go under 1.0893 will cause a reversal momentum wtih an attempt to go above the last Top(1.0956)
Trading solutions
1) We are waiting with pending orders to buy in the area of 1.0817 and sell in the area of 1.1110.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
