Forex

On the day chart the descending triangle remains. On Wednesday of euro/dollar has continued descending movement, but any more so it is prompt as on the Tuesday, one of the possible reasons - level of support 1.2500 strong enough and the exchange rate has been located near the bottom line of Bollindzhera strip support that specified in possible delay of descending movement. As the index of the Commodity Channel already long period of time was in oversale zone, and bulls waited the good moment for euro buying at a low course therefore today it is possible to observe correction.

At present the auctions pass above level 1.2600. Technical indicator ADX continues to give a signal on sale as 13-period +DI is located above 13-period-DI and itself ADX grows. At the same time the Index of the Commodity Channel on the former specifies on oversale zone in the market.

For situation clearing we will consider 4 sentry chart...

On which the exchange rate has reached a midland of Bollindzhera, the indicator has generated a weak signal on buying, and the Index of the Commodity Channel has closely come nearer to oversale zone.

Thus the given short-term ascending movement of euro it is considered as correction in relation to long-term descending movement and in case of a release from strong levels of resistance it is impossible to exclude occurrences in the market of aggressive sellers.