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100-pip decline expectations

100-pip decline expectations | 08 February 2017

08 February 2017, EUR/USD

Daily chart: the pair continues quite confident decline towards lower Bollinger band (1.0559). ADX is weak but may be growing soon, which is quite favorable for sellers.

100-pip decline expectations

Н4: intermediate support level at 1.0646 (lower Bollinger band) is not likely to stop bearish attack, as level is already under high pressure, that what hyperactive ADX shows us at the moment.

100-pip decline expectations

Н1: here we are also observing strong trending bearish ADX. We expect 1.0663 breakout followed by 100-pip decline to 1.0559.

100-pip decline expectations

Expectations: sharp decline to 1.0559

Solutions: consider selling to 1.0559

Aleksey Panasenko
FreshForex Analyst
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