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Trading towards both sides

10 July 2015, EUR/USD

Daily chart: all chances to move to O&U (1.1386). Strong resistance 1.1179 (the middle Bollinger band ) is waiting for the pair because ADX/RSI counters the movement. Bounce from this area down and a new decline down to 1.0945 is an equally possible event.

Trading towards both sides

Н4: attack of the upper envelope with active ADX is the argument from bulls. We also prove resistance at 1.1179. However, if it is tested on already broken upper envelope, we can buy on pullbacks to the middle band (1.1058)

Trading towards both sides

Н1: also a local Northern attack.

Trading towards both sides

Expectations: so, we are waiting for the movement to 1.1179, then a pullbacks to 1.1058, from where in the middle term we can buy to 1.1386.

Trading decisions:

1) Selling from 1.1179 to 1.1060

2) Purchase from 1.1058 to 1.1179 and 1.1386

Aleksey Panasenko
FreshForex Analyst
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