Corrective decline in the 6th figure
20 November 2015, EUR/USD
Daily chart: the pair is exactly in the middle of the bottom Bollinger envelope, so with equal probability we can expect both direct decline in the area of the bottom band (1.0570, red arrow) and pre-touch of the middle band (1.0844, blue arrow).
Н4: horizontal envelopes with weak ADX - all this says about a likely decline in the direction of the bottom Bollinger band (1.0619)
Н1: divergence of oscillator with weak ADX - the same scenario is here. The upper Bollinger band (1.0751) seems to be non-finilized, so the best possible area for intraday trades down is exactly this spot. Support is 1.0710, 1.0670
Expectations: the price is expected to fall to 1.0710, 1.0670 and possibly to 1.0640. Before it may touch the zone 1.0751.
Trading solutions: sales from 1.0751 to 1.0670, 1.0640
Aleksey PanasenkoAnalyst of «FreshForex» company
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