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Possible strong support around 1.0936

Possible strong support around 1.0936 | 30 July 2015

30 July 2015, EUR/USD

The daily chart: there is dynamics of movement down to the bottom Bollinger band (1.0825)

Possible strong support around 1.0936

H4: significant local support on 1.0950 is able to hold bears, as evidenced by weak ADX. At the top we had local O&U, therefore, such scenario is very probable.

Otherwise, we shall wait for a direct decline to 1.0825 (blue arrow), where there is, in its turn, bullish O&U presents.

Possible strong support around 1.0936

H1: dynamic support is lowered a little - 1.0936. Strong resistance is on 1.1072

Possible strong support around 1.0936

Expectations: 1) Drop to 1.0936 and bounce towards 1.1072.

Possible strong support around 1.0936

2) A breakdown below 1.0936 and decline to 1.0825.

solutions:

1) We are looking to Buy around 1.0936.

2) We are waiting with Buy pending orders around ​​1.0825

3) We are waiting with Sell pending orders around ​​1.1110.

Aleksey Panasenko
FreshForex Analyst
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