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Flat as the main scenario

27 October 2015, EUR/USD

The daily chart: we expected correction in the direction of the middle band Bollinger (1.1257) and the last inside bar can also contribute to development of such scenario.

Н4: the bottom Bollinger band is very deep - 1.0891. This may mean a high probability of a possible hit of this area. Resistance is in the middle band (1.1142). If the price moves to the middle Bollinger band first, downward movement will start from there.

Н1: Flat status of all indicators can be misleading, but so far everything is going to ensure that the trading range today will be limited by 1.1018-1.1061.

Expectations: 1) The main scenario - flat 1.1018-1.1061. 2 ) The alternative scenario - growth to 1.1142 and then downward correction towards 1.09.

solutions:

1) Buy from 1.1018 to 1.1061 and 1.1142

2) Sales from 1.1142 to 1.09

Aleksey Panasenko
FreshForex Analyst
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