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Resistance area 1.1092-1.1119

29 June 2016, EUR/USD

Daily chart: attempts to break up the inside bar, but it is only a false breakdown. Despite relevance of the correction in the area of ​​the middle band of Bollinger (1.1240), potential remains to be generally southern,

Н4: a better shaped resistance 1.1119 (middle Bollinger band) can send the pair to a another downward movement to the lower band (1.0850)

Н1:within the frame 1.1021-1.1092 a flat accumulation continues.

The main scenario - flat in the corridor 1.1021-1.1092

The alternative scenario - touch of 1.1119 followed by a start of drop to 1.1021 targeting 1.0850

Trading solutions: consider the downward entry points around 1.1092 -1.1119.

Aleksey Panasenko
Analyst of «FreshForex» company
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