Support is possible around 1.0789

July 21, 2015

EUR/USD

Daily chart: Euro is still forced down. Currently the target is 1.0789 (the bottom Bollinger band). Somewhere you meet a significant support for a correction and as a result new sales area to move on trend.

Í4: we confirm support at 1.0789. We again remind about a multiple convergence of oscillator, which says about correction. Resistance - 1.0968 (the upper Bollinger band ).

Í1: also bullish convergence. On the local level there is a flat range 1.0812-1.0860, but ADX is close to the area of active actions, so flat is not the main plan.

Expectations: moving down to 1.0789 and upward bounce to 1.0860

Trading decisions:

1)Purchases from 1.0789 to 1.0860. Downward trend is quite well expressed so, you need to get additional signals from your trading systems to enter upper parts.

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