Analysis of Friday closure

09 November 2015, EUR/USD

Day chart: ADX is active, so there is no hope to stop bears. The pair will show a 6-th figure. A small correction can appear because of oversold situation.

Analysis of Friday closure

Н4: breakthrough of lower Bollinger envelope, then a bullish IB – a roll back may appear to middle Bollinger band (1.0878) before new decrease wave.

Analysis of Friday closure

Н1: more local resistance level - 1.0816. Intraday support is 1.0685 (bottom Bollinger band).

Analysis of Friday closure

Expectations: Main plan – roll back to 1.0816 and then new decline to 1.0685 The alternative plan – a direct decrease to 6th figure without any rollback. Trading solutions: 1) Wait for correction to 1.0816 and sell to 1.0685

Aleksey Panasenko
FreshForex Analyst
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