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Euro. Local preparations for the mid-term drop

24 May 2016, EUR/USD

Daily Chart: In the medium run, ADX will enhance its trend activity of with a potential target 1.10817 (strong support zone and promising area of ​​demand for the euro). Local support is at 1.1151 (lower Bollinger band)

Euro. Local preparations for the mid-term drop

Н4: extremely narrow envelopes also anticipates the volatility momentum. But ADX is weak, so the scenario can be delayed until tomorrow.

Euro. Local preparations for the mid-term drop

Н1: another flat frame with the daily range inside Bollinger envelopes (1.1191-1.1226)

Euro. Local preparations for the mid-term drop

Expectations: The main scenario - flat 1.1191-1.1226

The alternative scenario - break down to 1.11

Trading solutions: we do not consider buying, look for sales around 1.1226 area.

Aleksey Panasenko
Analyst of «FreshForex» company
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