Waiting for growth to 1.1232

03 July 2015, EUR/USD

Daily chart: the bottom Bollinger band withstood, ADX is active enabling bulls to move up to 1.1386, where we still wait our entrance down to the middle-term movement of euro to 1.07-1.08 based on the pattern O&U.

Waiting for growth to 1.1232

Н4: As we see, here ADX is weak, so we are waiting for a strong resistance around the upper Bollinger band (1.1232). On decline to the area of the bottom band (1.1029), we again can buy euro to the target 1.1380.

Waiting for growth to 1.1232

Н1: a very active ADX, so today's accomplishing of 1.1232- quite probable.

Waiting for growth to 1.1232

Expectations: so, waiting for growth to 1.1232 and bounce down to 1.1029. Upon that, selling is dangerous, because area 1.1386 still contains a mighty supply.

Trading decisions:

1) We shall buy to1.1232.

2) You may support opened purchases to 1.1380.

3) Put Sell Limit orders to wait to buy from 1.1386.

Aleksey Panasenko
FreshForex Analyst
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