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Trading within the range 1.1143-1.1206 is possible prior to drop

Trading within the range 1.1143-1.1206 is possible prior to drop | 01 October 2015

01 October 2015, EUR/USD

The daily chart: the pair is sliding in the direction of the bottom Bollindger band (1.1080)

Trading within the range 1.1143-1.1206 is possible prior to drop

Н4: Bollinger envelopes are stable, promising support at the bottom band (1.1143), but we see hyper-activity of ADX, so bears have a distinct advantage.

Trading within the range 1.1143-1.1206 is possible prior to drop

Н1: Probably, trading within the range 1.1143-1.1206

Trading within the range 1.1143-1.1206 is possible prior to drop

Expectations: So, we wait for touch of zone 1.1143, rebound to 1.1206 and from there a continued drop to 1.1080

solutions:

1) Purchases (on additional signal) in the zone of 1.1143 to 1.1200

2) Sales from 1.1206 to 1.1080 (extraday)

Aleksey Panasenko
FreshForex Analyst
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