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Support is possible around 1.0789

21 July 2015, EUR/USD

Daily chart: Euro is still forced down. Currently the target is 1.0789 (the bottom Bollinger band). Somewhere you meet a significant support for a correction and as a result new sales area to move on trend.

Support is possible around 1.0789

Н4: we confirm support at 1.0789. We again remind about a multiple convergence of oscillator, which says about correction. Resistance - 1.0968 (the upper Bollinger band ).

Support is possible around 1.0789

Н1: also bullish convergence. On the local level there is a flat range 1.0812-1.0860, but ADX is close to the area of active actions, so flat is not the main plan.

Support is possible around 1.0789

Expectations: moving down to 1.0789 and upward bounce to 1.0860

Trading decisions:

1)Purchases from 1.0789 to 1.0860. Downward trend is quite well expressed so, you need to get additional signals from your trading systems to enter upper parts.

Aleksey Panasenko
Analyst of «FreshForex» company
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