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Falling flat on the euro

Falling flat on the euro | 20 October 2015

20 October 2015, EUR/USD

The daily chart: a continued technical correction to the middle Bollinger band (1.1273), where either bulls will finally test the upper envelope, or miss the initiative and bears will be able to go to the lower envelope in the direction of 1.1098 (see. red arrow)

Н4: expansion of envelopes, so waiting for finalization of 1.1273

Н1: possible intraday flat within the range 1.1298-1.1338

Expectations: The main scenario - flat within 1298-1.1338. The alternative scenario - decline to 1.1273

solutions: 1) You can try to sell from 1.1338 to 1.1298 and 1.1273 2) In the area of ​​1.1273 you may have a signal to buy that you can try to trade.

Aleksey Panasenko
FreshForex Analyst
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