Forex

On the day chart the descending triangle in which frameworks the auctions pass since December of last year remains. Following results of the Tuesday auctions course of uniform European currency has considerably decreased and has closely come nearer to three-year minima. At the same time the exchange rate is located near the bottom line of support  Bollindzhera strip that specifies in possible delay of descending movement. At the same time technical indicator ADX continues to give a signal on sale as 13-period +DI is located above 13-period-DI and itself ADX grows. Index of the Commodity Channel already long period of time is located in oversale zone, therefore traders which are guided by new orders opening on sale should do it extremely cautiously.

On 4 hour chart it is visible as descending movement was slowed down near level 1.2560, and index of the Commodity Channel already left oversale zone. Technical indicator ADX as specifies in attenuation of descending movement. At the same time in the present state of affairs for new orders opening on buying there are no accurate signals and it is necessary to remember that a trend still descending.

In the present affairs state traders with open orders on sale is better to fix profit.

Opening of new orders on sale is better to consider only in case of breakdown level 1.2560. Then the further purposes of bears will be located on 1.2500 and 1.2450