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Waiting for new sales from 1.1313

19 May 2015, EUR/USD

Daily chart: The pais is close to important support line from the middle Bollinger band (1.1122). Inability of bulls to move upwards from this area will bring Euro to the bottom line (1.0689)

Waiting for new sales from 1.1313

Н4: we're witnessing a break of the bottom envelope so saleing party has an advantage. Upon that, a pullback to the middle line (1.1313) is probable, from where we will sell again.

Waiting for new sales from 1.1313

Н1: Here we've got an absolutely the same picture.

Ждем новые распродажи от 1.1313

Expectations: So, we are looking for a return to 1.1313 and start of a new wave down with the target at 1.0689

Trading decisions:

1) We will sell once the price hits 1.1313 with the target at 1.0689. Of course, movement will take more than a day to evolve.

FreshForex Analyst
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