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Premarket review on the euro. Analysis of Friday's close

Premarket review on the euro. Analysis of Friday's close | 12 October 2015

12 October 2015, EUR/USD

The daily chart: bulls have the control, but ADX has not yet reached the main trend value, that allows to rely on correction to the middle Bollinger band (1.1242), from where there is a certain sense to buy the euro because of the planned strong upward movement. The area 1.16 seems to be quite achievable .

Premarket review on the euro. Analysis of Friday's close

Н4: strong trend ADX is also determined to the north, so in the beginning of the week bulls may test 1.1450 zone. At the same time, IB was locally received around the top Bollinger band, so we can not exclude correction to the middle band (1.1277).

Premarket review on the euro. Analysis of Friday's close

Н1: more localized support 1.1327 (middle Bollinger Band). Resistance is at 1.1303 zone (upper band).

Premarket review on the euro. Analysis of Friday's close

Expectations: So, within days we're waiting for the touch of 1.1327 and then rise to 1.1403. Any rebuilding of the euro I would recommend to treat as preparation for the midterm leap up into zone 1.1450 and then to 1.1650.

solutions: We buy from zone around 1.1327 to 1.1403 and possibly to 1.1450.

Aleksey Panasenko
FreshForex Analyst
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