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Decline will continue

06 January 2016, EUR/USD

Daily Chart: ADX continues to gain momentum, so we expect decline of the euro to to continue.

Decline will continue

Н4: local support at 1.07, there may be some pullback and turbulence, but ADX is also active, so it is very likely that bears will carry break the 6th figure.

Decline will continue

Н1: local clamping within the corridor 1.0727-1.0763, from where the price is to get down.

Decline will continue

Expectations: So, we waiting the price to fall to 1.07 and 1.0660. Under the same scenario, we consider the possibility of pre-touch of 1.0763.

Trading solutions: sales from 1.0763 to 1.07 and to 1.0660

Aleksey Panasenko
FreshForex Analyst
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