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Goal for the Euro - 1.0542

17 November 2015, EUR/USD

Daily chart: for the euro obvious target is the bottom Bollinger band (1.0542)

Н4: significant local support zone of 1.0670 (bottom Bollinger band). ADX paramaters are inactive, so probability of the flat will be still here.

Н1: the support zone 1.0670 will be under a heavy load, but break down can occur as it usually happens with bottom envelopes - through a roll back to the zone of the middle Bollinger band (1.0714), which is the best possible area for medium-term sales.

Expectations: The main scenario - a breakthrough under 1.0670, then pullback to 1.0714, and then beginning of the fall to 1.0542. The alternative scenario - a direct fall to 1.0542

solutions: sale from 1.07-1.0718 zone to the 1.0542

Aleksey Panasenko
Analyst of «FreshForex» company
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