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Bears are taking an advantage

23 September 2015, EUR/USD

The daily chart: Bears continue to push the euro down, but strong support in the area of ​​the lower Bollinger band (1.1052) is waiting for the pair

Bears are taking an advantage

Н4: trend pressure on ADX, so support 1.1052 may be under stress

Преимущество у медведей

Н1: oscillator convergence suggests some weakness of sellers. Local support is in the area of ​​1.11

Bears are taking an advantage

Expectations: (The main scenario)

: Decline to 1.11 and bounce to 1.1153

The alternative scenario: Deeper decline to 1.1152 and then bounce up.


1) No Buy options, but there is almost no space for Sale as well. However, advantage is on the bears's side, so sale is preferable.

Aleksey Panasenko
Analyst of «FreshForex» company
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