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Two scenarios for the euro

08 December 2015, EUR/USD

Daily chart: the price is sliding toward the middle Bollinger band (1.0714).

Two scenarios for the euro

Н4: some rebound from the middle band (1.0795) have the potential for another upward wave to 1.1057 (Upper Bollinger band. See the blue arrow), but still the day correction pressure gives the chance to test 1.0714

Two scenarios for the euro

Н1: Intraday flat horizontal channel1.07 95-1.0839

Two scenarios for the euro

Expectations: The main scenario - flat 1.0795-1.0839. The lternative scenario - decline to 1.0714.

Trading solutions: sale to 1.0714. Under the flat scenario (if there is no possibility to break below 1.0795), it is reasonable to open sales from the area of ​​1.0839

Aleksey Panasenko
Analyst of «FreshForex» company
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