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Looking for growth to 1.0959-1.0978 and decline to 1.0881

23 July 2015, EUR/USD

Daily chart: bulls are moving to the middle Bollinger band (1.1026), from where a pullback is probable to happen to the area of demand in Euro configured by the pattern O&U (1.0825)

Looking for growth to 1.0959-1.0978 and decline to 1.0881

Н4: the upper Bollinger band (1.0973)with weak ADX also has potential as a resistance line.

Looking for growth to 1.0959-1.0978 and decline to 1.0881

Н1: and even a better shaped resistance 1.0959. Support is 1.0881.

Looking for growth to 1.0959-1.0978 and decline to 1.0881

Expectations: growth to 1.0959-1.0978 and decline to 1.0881 with the target at 1.0825.

Trading decisions:

1) Waiting in the bottom part (at 1.0825) with purchases.

2) If there is a short signal around 1.0959-1.0978, we shall sell 1.0881 to 1.0825

Aleksey Panasenko
FreshForex Analyst
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