Volumetric analysis on July 12.
EURUSD showed us that there is no upward trend. It has broken important price range in terms of volumes and did not find an interest there. Therefore, we are waiting for the range, or a turn down. The probability of price decline is seen below the range of 1,1705-1,1730 and even higher probability below the 1,1745-1,1790. On the upward trend should be said only after the breakdown of the level of 1,1790. The closest and probable drop targets are placed at 1.1650 and 1.1620 price marks.
The pair has practically broke through its support, and the final impulse down is a matter of time. It is worth waiting for it, and to perceive further movements as a local downtrend for the fall of 1.3135.
Bank of Canada decision surprised the market. As a result, the price flew into the resistance of 1.3185-1.3225, and apparently it will break it and go above 1.3225. However, such scenario means development of the flat pattern, which reduces the opportunities for successful trading and makes the instrument less attractive. Today we will consider one more option, it is possible downwards development. The next support is placed at 1.3140-1.3115. The probability of rebound also exist, in such scenario the target could be found at 1,3185.
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