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Breakthrough to 1.1021 is possible

28 May 2015, EUR/USD

Daily chart: We continue to wintess how our scenario is implemented. Under this scenario, the bottom Bollinger band has demonstrated itself as a reliable line. That gave Euro potential to grow to 1.1390, from where a strong wave down will be supposed to come based on O&U pattern.

Breakthrough to 1.1021 is possible

Н4: strong resistance on 1.1021, but ADX is also strong. Therefore, a fight may be followed by a breakthrough above to 1.1186. Area of local purchases is represented by 1.0926 (the middle Bollinger band)

Breakthrough to 1.1021 is possible

Н1: Here we have a weak ADX, so a resistance in the area of the upper Bollinger band (1.0936) is possible.

Breakthrough to 1.1021 is possible

Expectations: So, this day a flat within 1.0850-1.0926 may take place, either it may be under the sign of bulls which have an opportunity to grow to 1.1021 and 1.1186. So we don't consider sales.

Trading decisions:

1) We buy in the direction of 1.1021 and 1.1186.

Aleksey Panasenko
FreshForex Analyst
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