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Ready for a deeper decline

Ready for a deeper decline | 12 July 2016

12 July 2016, EUR/USD

Daily chart: pressure from ADX is growing. So far we are based on readiness of the price for the new fall towards 1.0957 (the bottom Bollinger band). It is better to enter down from around the middle band (1.1164), if, of course, such a correction will happen.

Ready for a deeper decline

Н4: a calm horizontal corridor 1.1023-1.1107 (Bollinger envelopes are yellow)

Ready for a deeper decline

Н1: a bearish pinbar from the upper Bollinger Band may indicate a weakness of bulls and the possibility of decline to 1.1023 (the lower Bollinger band).

Ready for a deeper decline

Expectations: decline to 1.1023 and maybe toward 1.0957

Solutions: sales to 1.1023 and 1.0957

Aleksey Panasenko
FreshForex Analyst
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