Waiting for the attack of support 1.0893 | 31 July 2015

31 July 2015, EUR/USD

Daily chart: Bears are pulling their swing in the direction of the massive support area 1.0808-1.0817 quite confidently.

Waiting for the attack of support 1.0893

Hourly chart bulls did not show a proper potential, although they have chances of a reversal due to a very short downward swing, which has been already provided. However, we must wait for the downtrend to continue.

Waiting for the attack of support 1.0893

Scenario:

1) decline under 1.0893 and target is 1.0817.

2) Inability to go under 1.0893 will cause a reversal momentum wtih an attempt to go above the last Top(1.0956)

Trading solutions

1) We are waiting with pending orders to buy in the area of ​​1.0817 and sell in the area of ​​1.1110.

Aleksey Panasenko
FreshForex Analyst
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