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Waiting for the impulse!

09 October 2015, EUR/USD

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The daily chart: Meanwhile, Bollinger envelopes retain the same horizontal channel, but we see that ADX entered the active zone, so - we are close to the top of distribution of the accumulated volume in the flat. Directions are equally probable.

Waiting for the impulse!

Н4: from the top Bollinger band the pinbar was received, on its background we see false breakouts and resistance 1.1308, and the inside bar. It could send the pair down to the direction of the lower Bollinger band (1.1171)

Waiting for the impulse!

Н1: Here, too, we have the trend ADX! The character of the chart is more bullish, but divergence confuses plus a false breakdown of resistance 1.13. The scenarios are equally probable. Confirmation of the North would be a breakthrough and consolidation in the 13th figure (above recent highs). Bears will fight to break the trend line (zone 1.1250)

Waiting for the impulse!

Expectations: So, the impulse is very likely to happen as well as the further trend towards breakdown. Bearish scenario is interesting in the terms of presence of specific trade setups (see. H4), whereas bullish scenario - by its logic. Bears need to get the euro under 1.1250, bulls - above 1.1350

solutions: Given equal probability of scenarios, we should either Sell from current levels with Stop orders set above yesterday's high or Buy based on expectation of growth or waite for some clarity

Aleksey Panasenko
FreshForex Analyst
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