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Passing moves with local advantage of bulls

31 July 2015, EUR/USD

Daily chart: the pair is moving within the Bollinger envelopes, being "surrounded" by two colliding O&U s - from north it is from 1.1110, from south it is coming from 1.0825.

Passing moves with local advantage of bulls

Н4: a similar situation. Two paths: a decline to the middle 1.0825 Bollinger band (1.1011), either rising to the northern O&U (1.1110)

Passing moves with local advantage of bulls

Н1: scenario of the upward movement to 1.1110 through breaking the top envelope. Let's watch.

Passing moves with local advantage of bulls

Expectations:

Main: Move up towards 1.1110 via zig-zag 1.1011-1.0935-1.1110.

Alternative: Decline from 1.1011 down to 1.0825.

solutions:

1) If the top envelope is breaken, we shall buy from 1.0935 to 1.1110.

2)Pending Sell orders are set at 1.1110 and Buy at 1.0825.

Aleksey Panasenko
Analyst of «FreshForex» company
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