Forex

Auctions on Monday were closed by a black candle without the bottom shade, thus it is possible to speak about formation of a falling star, but it is necessary to remember that it turn model at top, and in the market basis its importance more low.

Lines of Bollindzhera are narrowed and by that specify in consolidation in the market. At the same time it is necessary to remember that after such "standstill" strong movements follow, therefore it is necessary to watch closely situation development.

Technical indicator ADX does not give accurate signals on buying or sale as 13-period +DI is located more low 13-period-DI, but itself ADX thus falls. The index of the Commodity Channel left oversale zone and has no certain direction of movement.

On 4 hour chart it is well visible as the euro has started to decrease, having beaten off from the top line of Bollindzhera, and as strong level of resistance 1.2940 (given scenario was considered in the last review). But at present bulls have gained strength also euro has found good support in area 1.2700 where there passes an average line of Bollindzhera.

At the same time Technical indicator ADX does not give accurate signals on buying or sale as 13-period +DI across 13-period-DI and itself ADX falls. Index of the Commodity Channel does not give accurate signals about a market condition (oversale or overbuying).

In the circumstances it is better to remain out of the market