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Decline continues

Decline continues | 15 December 2016

15 December 2016, EUR/USD

Daily chart: aggressive ADX along with downtrend and breakout of the last strategic support level 1.0500 indicate further Euro decline towards parity.

Decline continues

Н4: there is quite the same situation: bears push further. Bulls make fable attempts to buy around 1.0485 (lower Bollinger band), but market goes in opposite direction.

Decline continues

Н1: local day support level for Euro is 1.0437 (lower Bollinger band). Intraday traders can take profit exactly in this range, because correction is highly possible.

Decline continues

Expectations: we expect the pair to decline to 1.0437.

Solutions: sell around 1.0437.

Aleksey Panasenko
FreshForex Analyst
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