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Wait for the decline from 1.1089 to 1.0970

12 August 2015, EUR/USD

Daily chart: The forecasted yesterday height is reached (the upper Bollinger band, 1.1089). In account of inert ADX, I don’t see the reasons for the decline to bottom band (1.0824), thurthemore there is a euro demand zone within bullish O&U

Wait for the decline from 1.1089 to 1.0970

Н4: as we see the zone 1.1089 can be probably broken but there are no obvious reasons for this. The support is 1.070 (the middle Bollinger band ).

Wait for the decline from 1.1089 to 1.0970

Н1:the same situation.

Wait for the decline from 1.1089 to 1.0970

Expectations: let’s wait for the decline to 1.0970 from 1.1089.

Trading solutions:

1) those, who were late to sell yesterday, can sell today from 1.1089 to 1.0970

Aleksey Panasenko
FreshForex Analyst
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