Bulls don’t give up, trying to break above stiff resistance area 1.1724-1.1745. However, capability of this upswing seems to be limited just due to the absence of full-rate downswing. Thus, the main expectation is downward bounce from this area.
As we see, bulls don’t cease attempts to break upper Bollinger band (112.31), that can drive to powerful momentum beyond the upper bands. Though, ADX is just gaining energy, therefore, delay of upward movement till tomorrow is possible.
Market has clear bearish momentum - sellers absorb in one bar all the weekly achievements of buyers. Therefore we can expect further development of downward wave in direction of lower Bollinger band (5858.63).
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