Forex

On the day chart it is possible to observe next testing strong level 1.1775 which most likely bulls cannot overcome for the objective reasons:

- Exchange rate bargains near the top strip of Bollindzhera

- The index of the Commodity Channel specifies on oversale in the market

- Technical indicator ADX continues to give a signal on buying as 13-period +DI it is located above 13-period-DI, but itself ADX is located in a zone, when the market already "warm" after long ascending movement.

On 4 hour chart the ascending wedge remains. Exit from which most likely also will define the further short-term direction of movement exchange rate.

At present Technical indicator ADX gives a weak signal on buying as 13-period +DI above 13-period-DI, but 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 of strong resistance level 1.1775 which breakdown can lead to occurrence of aggressive buyers.