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We may witness upward reversal of the euro

02 December 2015, EUR/USD

Daily chart: on the background of bullish convergence the pair is showing a hardly seen intention to reverse. Another attempt to test the bottom Bollinger band (1.0511) can take place, from where we will probably see rise of the euro towards the first middle band (1.0710), and then the upper one (1.0907).

We may witness upward reversal of the euro

Н4: massive convergence of the oscillator and active ADX. In the case of a downward rollback to the zone of the bottom Bollinger band (1.0557) we can get very promising entry points in purchases to 1.0710

We may witness upward reversal of the euro

Н1: intermediate support zone - the middle Bollinger band (1.0606), the next - 1.0566 (the bottom band). From one of these areas we expect growth to 1.0710 (with an eye to 1.0907)

We may witness upward reversal of the euro

Expectations: So, we wait for a downward rollback (either to 1.0606 or to 1.0566), where the euro could drastically recover to 1.0710 (and potentially move to 1.0907).

Trading solutions: buy from one of the above supports to 1.0710, 1.0907

Aleksey Panasenko
FreshForex Analyst
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