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New decline

03 November 2015, EUR/USD

The daily chart: Monday showed weakness of buyers expressed in the bearsih inside bar and southern extension of the Bollinger envelopes. We are waiting for new decline towards the bottom band (1.0881)

Н4: Bollinger envelopes preserve horizontal orientation with the range 1.0913-1.1084

Н1: more localized resistance 1.1047 (the upper Bollinger band), support to 1.1004, a break below that would activate drop (ie ADX is very close to trend value).

Expectations: to fall to 1.0913. Perhaps pre-contact zone of 1.1047.

solutions: Buy from the zone 1.1047 to 1.0913.

Aleksey Panasenko
Analyst of «FreshForex» company
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