On the day chart it is possible to observe a convergence of Bollindzhera strips upwards that specifies in consolidation and near future it is necessary to expect strong movement, in this case presumably upwards. Technical indicator ADX continues to give a signal on buying as 13-period +DI it is located above 13-period-DI, and itself ADX grows. At the same time Index of the Commodity Channel specifies on overbuying in the market, therefore at new orders opening on buying it is necessary to be careful.
On 4 hour chart ascending wedge is generated. An exit from which most likely and to define the further short-term direction of an exchange rate movement.
At present Technical indicator ADX does not give accurate signals on buying or sale as 13-period +DI and 13-period-DI recently were crossed, and itself ADX has no accurate direction of movement.
In the present state of affairs is better to remain out of the market and to observe strong level of the resistance 1.1775 which breakdown can lead to occurrence of aggressive buyers.
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