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Correction to the area 1.1031 and a new decline

16 December 2015, EUR/USD

Daily chart: the pair tends to the technical pullback in the area of ​​the middle Bollinger band (1.0783).

Correction to the area 1.1031 and a new decline

Н4: horizontal envelopes plus IB from the bottom Bollinger band are about to drop the euro once again to 1.1031 (the upper band)

Correction to the area 1.1031 and a new decline

Н1: we also are waiting for growth to 1.0979 and 1.1031.

Correction to the area 1.1031 and a new decline

Expectations: So, we wait for a correction to 1.0979 and 1.1031, from where the decline could continue to 1.0894.

Trading solutions: 1) Purchases to 1.0979 and 1.1031. 2) Sales from 1.1031 zone to 1.0894 and 1.0783 (extraday)

Aleksey Panasenko
FreshForex Analyst
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