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Looking to buy on this decline

13 July 2015, EUR/USD

Daily chart: in the morning, the price has corrected towards the bottom Bollinger band (1.0965). We will estimate younger charts to learn if bears were able to work on this pukkback in full.

In general, we expect flash to 1.1386, from where Euro can drop to 1.07.

Looking to buy on this decline

Н4: right now the pair is on a very strong support - 1.1073 (the middle Bollinger band ), which is able to fight an attack off

If the price falls under 1.1073, buyers can work on 1.0965.

Looking to buy on this decline

Н1: a very strong attack of the bottom envelope. So, we can say that plans discussed for Н4, are equally possible .

Looking to buy on this decline

Expectations: 1) Bounce from 1.1073 and start of growth to 1.1386 2) Breakthrough of 1.1073 will lead to decline to 1.0965

Trading decisions:

1) Looking to buy from 1.1073 either 1.0965 after you get confirming signals. Middle-term target - 1.1386.

Aleksey Panasenko
Analyst of «FreshForex» company
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