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Possivle support around ​​1.10, and a ​​growth towards 1.11

29 July 2015, EUR/USD

Daily chart: clamping between the range of Bollinger Bands (1.0825-1.1190)

Possivle support around ​​1.10, and a  ​​growth towards 1.11

Н4: right now the euro is on important support from the middle Bollinger Band (1.1034), from where bulls can theoretically find potential to modify O&U (1.1110), where the price is about to drop to 1.0929 and then to 1.0825, where is located bullish O&U.

Possivle support around ​​1.10, and a  ​​growth towards 1.11

Н1: here we see a detailized bearish O&U of 1.1110, but here is a strong resistance at 1.1085 (the upper Bollinger Band). Therefore, a scenario marked by a red path is rather strategic than the intraday

Possivle support around ​​1.10, and a  ​​growth towards 1.11

Expectations: So, we wait for support in the 1.0996-1.1020 area, from where bulls will work on the pair to bring it to 1.1085 and possibly to 1.1110

Trading solutions:

1) When Long signals occur in the area of ​​1.10, we shall buy to 1.1100.

2) We shall sell in the medium-term run (to 1.0929 and 1.0825) from the area of ​​1.1110.

Aleksey Panasenko
Analyst of «FreshForex» company
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