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

19 October 2015, EUR/USD

The daily chart: technical correction in the direction of the middle Bollinger band (1.1273). Sellers have reason to wait for finalization of this area.

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

Н4: However, we cannot ignore strong support in the area of ​​the bottom Bollinger band (1.1329). Envelopes are horizontal and stable, ADX is inactive, and therefore, there is a high probability of an upward rebound. This duality of scenarios makes sellers be careful and not be greedy in intraday transactions.

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

Н1: another support at 1.1341. Overall, Monday can be spent within the flat 1.1341-1.1394.

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

Expectations: The main scenario - Touch of zone 1.1329-1.1341 and rebound to 1.1394. Alternative scenario - punching of support 1.1329 and decline to 1.1273

Solutions: 1) Trading within the range 1.1329-1.1394. 2) Aggressive sellers can try to wait the target 1.1273. 3) Under the alternative scenario,you can reopen Buy trades around 1.1273.

Aleksey Panasenko
Analyst of «FreshForex» company
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