Waiting for a pullback from the area 1.0978 and then we shall buy again

July 22, 2015

EUR/USD

Daily chart:Yesterday the pair has confirmed its correctional potential. The nearest strong resistance - the middle Bollinger band (1.1047), from where Euro can go to 1.0825, accumulating a probable demand within the frames of O&U pattern. From this area, it can move even upper to 1.1280 and 1.1380.

Í4:the upper envelope is broken which, from the one hand, is a strong signal telling about continuation of growth and from another hand, it is a possibility of a pullback to the middle Bollinger band (1.0867) and even 1.0825, where we indicated a local bullish O&U pattern.

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