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The range 1.1058 - 1.1100

08 August 2016, EUR/USD

Daily chart: the pair has predictably reached the middle Bollinger band and is now in the middle of the envelope range (1.0951-1.1200), i.e., in the wrong place to search for any entry options.

Н4: a better shaped corridor inside the bottom Bollinger envelope (1.1058 - 1.1143)

Н1: we confirm support 1.1058 (the bottom Bollinger band), from where the pair is likely to make a rebound towards 1.11.

Expectations: decline towards 1.1058 and then an up rebound to 1.11

Solutions: we are considering buying options intraday from 1.1158 to 1.11.

Aleksey Panasenko
FreshForex Analyst
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