Volumetric analysis on August 02
The expected downward movement took place quite accurately, and in general the trend persists. Our next target may be the mark of 1.1570. It cannot be said that this is a highly probable goal, since this is an extreme support, and besides, there are many publications of fundamental data ahead. But until the price is below the 1.1700 mark, we could say that the local downward trend persists.
After yesterday's decline in the pair and the breakdown of important support, the suspicion that a false breakdown is forming has intensified. In the price range of 111.85-112.15 probably there is an open interest of sellers, and we do not think about purchases until we are above 112.15. You can expect a decline in quotations, under the initiative of sellers, to the mark of 111.45 or 111.25. Further is unclear.
Yesterday's assumption of a fall was realized quite accurately. However, the way the fall was stopped yesterday is a bit alarming. The downward trend structure is preserved.
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