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Waiting for a new decline of Euro

Waiting for a new decline of Euro | 06 July 2015

06 July 2015, EUR/USD

Daily chart: active ADX almost does not allow to hope for a high correction to 1.1386, where we have an entry point according to O&U. New decline can start at any time and bears have enough fuel for that.

Waiting for a new decline of Euro

Н4: two strong resistance lines at 1.1156 and 1.1223. From each of them, the pair may fall towards 1.0968.

Waiting for a new decline of Euro

Н1: as we see, the area 1.1138-1.1156 is very dense and looks like it cannot be overcome. Support is at 1.0990.

Waiting for a new decline of Euro

Expectations: decline to 1.0990. The price may also hit 1.1138-1.1156 before that.

Trading decisions:

1) We shall seel from 1.1156 to 1.0990.

Aleksey Panasenko
FreshForex Analyst
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