Upward roll back is possible, but no purchases | 17 November 2015

17 November 2015, EUR/USD

The daily chart: bears predictably broke the last swing bottom and now have a good chance for development of further success. There are no signs of stop yet.

H1: an upward rollback swing is about to be set, the space allows for correction. The only correct tactic is to search for signals down on this swing. The best possible area for it - 1.0690-1.0710.

Expectations:

1) rollback to 1.0680-1.0710 and then a new swing down on the bottom of the last bottom (1.0642). Apparently, the 5th figure will be finalized.

2) Smooth decline with no rollbacks. This scenario is also likely, so no purchases.

solutions: Keep an open Sell order, and add new on rollback to the zone 1.0690-1.0710.

Aleksey Panasenko
FreshForex Analyst
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