Volumetric analysis on July 19
Negative data, which were published yesterday, work synchronously with the picture of the distribution of volumes. However, you should be wary of the price range of 1.3045-1.3010, as in this area the demand was greater than the offer, and this range can become a support. However, this does not change the downward structure, at least until the price is above 1.3180. But the resistance may be in the price range of 1.3106 - 1.3180, there was a lot of volume traded, and it is possible that there is an open interest of sellers.
We did not see the big activity of buyers and it is obvious that the trend is not strong, however, it remains to be ascending. The price rolls back to the price range 112.20-112.50, there was the maximum volume of trades, and you can wait for a retreat upwards from this range.
Globally, the trend is downward. And the maximum possible resistance is in the price range 1239,50-1248,00. But we also have a local outset, with borders of 1234.50 and 1221.00. If the price is higher than 1234.50, then we can assume that the correction has started upward, and we should look for the reaction of the price and the rebound down in the range of 1239.50 - 1248.00. It is difficult to say if it is possible to buy in terms of correction, but it will be better to see the further manifestation of the strength of the sellers, and the breakdown of 1221.00.
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