All three frames speak for a further decline of Euro

July 7, 2015

EUR/USD

Daily chart: a very strong pressure from ADX almost does not give any chances to bears. Euro is falling and will plan to fall further.

Í4: the bottom Bollinger envelope has been broken which is a strong signal for sales. Waiting the pair on the middle Bollinger band (1.1060) and sell at 1.07.

Í1: the same situation - the bottom envelope has been broken. the middle Bollinger band just under the point (1.1039).

Expectations: All three frames speak for a strong decline. We shall sell from the area 1.1039-1.1060 ê 1.07

Trading decision:

1) Sales from zone 1.1039-1.1060 to 1.07

Publication source
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