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Bears' sadism is likely to continue

01 December 2015, EUR/USD

Daily chart: the bottom Bollinger band dropped by another 20 points and now the relevant goal of the euro is 1.0480.

Bears' sadism is likely to continue

Н4: decline against convergence of the oscillator, which indicates weakening of the bearish front. However, we know that strong trends (and the downward trend on the euro can be considered strong) evolve in a very reluctant manner, slowly and sluggishly. We do not expext an impulse reversal (and a reversal in general). The zone of resistance - 1.0594 (middle Bollinger band)

Bears' sadism is likely to continue

Н1: the same bullish convergence of oscillator, but the status of indicators is flat. The range of the flat - 1.0556-1.0590.

Bears' sadism is likely to continue

Expectations: The main scenario - flat 1.0556-1.0590. The alternative scenario - drop to 1.0480. Trading solutions: we do not consider purchases. Sell ​​from 1.0590 area to 1.0480

Aleksey Panasenko
Analyst of «FreshForex» company
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