Volumetric analysis on September 7
This pair demonstrated big movements after long time being traded in range formation. This is a false breakdown, from which you can expect much. We will count that this reversal figure does not deceive us, and the downward movement is the main one for us. The target for the fall is 1.3060, and in the role of resistance, the price ranges 1.3135-1.3170 and 13190-1.33230
Our expectations that in the price range of 111,50-111,80 there is an open interest of the seller were confirmed. However, at the 110.40 price level the stop was not accidental. In the history on this mark there was a strong activity of buyers, therefore we do not count on breakdown of this mark. We admit correction towards to the price range of 110.80-111.10, there reaction and a retreat down to 110.40.
The expected decline took a place without a preliminary change of initiative, and it was difficult to take advantage of this movement. However, the resistance that we considered yesterday, we will take as the main. It's about the range of 68.30-69.35. The fact is that after such a rapid fall, the correction was strong enough, which indicates a weakness of the trend. And in an amicable way, one should prepare for a rollback up to 68.30-69.35, and not try to jump into the market faster. Also, given the prospective strength of the trend, it is not necessary to talk about the big goals of the fall. We will count on 67.20 and less likely 66.25
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