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All three frames speak for a further decline of Euro

07 July 2015, EUR/USD

Daily chart: a very strong pressure from ADX almost does not give any chances to bears. Euro is falling and will plan to fall further.

All three frames speak for a further decline of Euro

Н4: the bottom Bollinger envelope has been broken which is a strong signal for sales. Waiting the pair on the middle Bollinger band (1.1060) and sell at 1.07.

All three frames speak for a further decline of Euro

Н1: the same situation - the bottom envelope has been broken. the middle Bollinger band just under the point (1.1039).

All three frames speak for a further decline of Euro

Expectations: All three frames speak for a strong decline. We shall sell from the area 1.1039-1.1060 к 1.07

Trading decision:

1) Sales from zone 1.1039-1.1060 to 1.07

Aleksey Panasenko
FreshForex Analyst
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