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Accumulation of Northern potential

08 September 2015, EUR/USD

The daily chart - the pair is aimed at the upper Bollinger band (1.1505), however, capacity for a strong movement of ADX is not enough. Therefore, growth scenario may be delayed in time.

Accumulation of Northern potential

Н4: ADX and Bollinger also have flat status, so today the pair is expected to stay within the corridor 1.1089-1.1251.

Accumulation of Northern potential

Н1: more localize trading range and we get получаем 1.1157-1.1208.

Accumulation of Northern potential

Expectations: So, the euro looks upwards, but the market is to continue accumulating volume. Therefore, with a high probability the resistance 1.1208 will not be broken.

solutions:

1) Buy euro on any decline towards 1.1157. The goals are the levels 1.1208, 1.1251 and 1.1505 (medium-term).

Aleksey Panasenko
FreshForex Analyst
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