Wait for the downward swing | 12 August 2015

12 August 2015, EUR/USD

Daily chart: bulls continued to get new maximums yesterday within the upward swing. However the structure stays downward and we expect for the decline to 1.0825, where our limit buy orders within Over&Under.

Wait for the downward swing

Hourly chart: here is a local ascending structure that has to be turned. The perspective pin from the pivot zone 1.1080-1.1100 is got, so we wait for the downward swing.

Wait for the downward swing

Scenarios: the decline to 1.0924-1.0960.

Trading solutions:

1) Sell to 1.0924 and 1.0960, or to 1.0830 (extraday).

Aleksey Panasenko
FreshForex Analyst
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