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Corrective decline in the 6th figure

20 November 2015, EUR/USD

Daily chart: the pair is exactly in the middle of the bottom Bollinger envelope, so with equal probability we can expect both direct decline in the area of ​​the bottom band (1.0570, red arrow) and pre-touch of the middle band (1.0844, blue arrow).

Н4: horizontal envelopes with weak ADX - all this says about a likely decline in the direction of the bottom Bollinger band (1.0619)

Н1: divergence of oscillator with weak ADX - the same scenario is here. The upper Bollinger band (1.0751) seems to be non-finilized, so the best possible area for intraday trades down is exactly this spot. Support is 1.0710, 1.0670

Expectations: the price is expected to fall to 1.0710, 1.0670 and possibly to 1.0640. Before it may touch the zone 1.0751.

Trading solutions: sales from 1.0751 to 1.0670, 1.0640

Aleksey Panasenko
Analyst of «FreshForex» company
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