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High probability of the upward rollback

18 November 2015, EUR/USD

Daily chart: Euro is still determined for the medium-term decline towards 1.0521 (the bottom Bollinger band).

Н4: signs of bullish convergence. This could trigger an upward rollback from the area 1.0614 (the bottom Bollinger band) to 1.0713 (the middle band).

Н1: convergence of the oscillator presents here as well. You have to be very careful with sales. It is safer to skip the emerging upward roll back.

Expectations: touch of 1.0614-1.0634 support zone and rebound towards 1.0713

solutions: If we have long-signals around 1.0614-1.0634, you can try buying on correction to 1.0713. However, for conservative traders it will be easier to just wait for the upward rollback to look for downward signals.

Aleksey Panasenko
Analyst of «FreshForex» company
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