The euro’s target is decline for these days
10 November 2015, EUR/USD
Daily chart: the bottom Bollinger band is for continuing decline of the euro to 1.0644
Н4: more localized support from 1.0690 (bottom Bollinger band). Resistance is on the middle band (1.0820), from where we can think about sales.
Н1: flat horizontal corridor 1.0738-1.0783,but there is a high possibility that it will be broken today — ADX looks up (although it didn’t reach the trend zone).
Expectations: The main scenario: the pair is traded in the corridor 1.0738-1.0783, and then decline with the target 1.0690. The alternative scenario: correction up to the zone 1.0820 and then sales from there.
Trading solutions: 1) We are not going to buy for a while. Sell from 1.0820 (in the case of the alternative scenario) or from 1.0783 (in the case of the main scenario) to the targets 1.0690 and 1.0644.
Aleksey PanasenkoAnalyst of «FreshForex» company
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