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Duality of support 1.1347

14 October 2015, EUR/USD

The daily chart: very active ADX around the upper Bollinger band, which may lead to further upward trend movement in the direction of 1.15. However, still there is a possibility that this pressure can be correlated with the bearish movement.

Н4: локализованные уровни поддержки (1.1347) и сопротивления (1.1431)

Н1: we also see here duality of the scenarios as the pair has a trending pressure of ADX in the middle Bollinger band (key support). Diagnostic support will now be the bottom Bollinger band (1.1347 ). After breakdown of this level bears will have a full control of the situation. In the meantime, we have to start from the northern expectations (up to 1.1400 and 1.15)

Expectations: 1) If the euro gets above 1.1347 - waiting for growth to 1.1431 2) If the euro gets below 1.1347 - waiting for drop to 1.1261

solutions: 1) Sales aimed at breakdown of support 1.1347 to target 1.1261 2) Buy when you have signals above 1.1347 to 1.1431

Aleksey Panasenko
Analyst of «FreshForex» company
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