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Support is expected in the area 1.10-1.1029 is expected

Support is expected in the area 1.10-1.1029 is expected | 02 July 2015

02 July 2015, EUR/USD

Daily chart: pressure from ADX is growing and we can interpret it in tw ways: as a potential for movement to 1.1386 (O&U) and as pressure to break the bottom Bollinger envelope.

Support is expected in the area 1.10-1.1029 is expected

Н4: possible support is around1.0998 (the bottom Bollinger band plus the round level). Сопротивление на 1.1232.

Support is expected in the area 1.10-1.1029 is expected

Н1: более локализованная поддержка на 1.1029. сопротивление в зоне 1.11.

Support is expected in the area 1.10-1.1029 is expected

Expectations: снижение в зону 1.10-1.1029 и отскок к 1.11.

Trading decisions:

1) Can buy from the area 1.10-1.1029, but it is better to wait for a confirmation signal.

Aleksey Panasenko
FreshForex Analyst
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