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In short-term run, markets believe in Euro

In short-term run, markets believe in Euro | 30 June 2015

30 June 2015, EUR/USD

Daily chart: a very strong bounce from the bottom Bollinger band (1.1043). At current price, Euro continues to be in demand.

We also remember about zone 1.1391, where we have a potentially strong offer on sale under the pattern O&U.

In short-term run, markets believe in Euro

Н4: Bollinger envelopes are strictly horizontal ensuring support by the bottom and (1.1060) resistance at the upper (1.1285) bands.

In short-term run, markets believe in Euro

Н1: the same picture, but levels of support/ resistance are shaped better - 1.1094-1.1274.

In short-term run, markets believe in Euro

Expectations: Euro tends to grow to 1.1274, but you can buy only if it drops to 1.1094.

Trading decisions:

1) Buying from 1.1094 in case of decline to this area. Target - 1.1274 (and 1.1391 in the middle-term run).

Aleksey Panasenko
FreshForex Analyst
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