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ADX shows trend!

01 July 2015, EUR/USD

Daily chart: Bollinger envelopes are squeezed to a high extent. We are close to a shot. We will continue to work around 1.1391 prior to decline but we cannot except a direct decline when breakthrough under the bottom Bollinger band (1.1092) will take place.

ADX shows trend!

Н4: Meanwhile, support 1.1043 looks quite stable. We are waiting for at least one more upward bounce from it. The best possible move is to 1.1248 (upper wall of a horizontal range of Bollinger bands).

ADX shows trend!

Н1: ADX shows trend! Bears are ready to tire the bottom envelope. We shall sell on a return to the middle band (1.1151).

ADX shows trend!

Expectations: a decline to 1.1043, then return to 1.1151 and a new wave of decline.

Trading decisions:

1) We should sell from 1.1151 to 1.0950.

2) Aggressors can attempt to buy on support 1.1043 to 1.1150.

Aleksey Panasenko
FreshForex Analyst
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