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Potential for growth is limited

09 December 2015, EUR/USD

Daily chart: the attempt of bulls to break higher is against weak corrective ADX. Therefore, in the zone of 1.0944 (Upper Bollinger band) we expect strong resistance and a downward roll back towards the middle band (1.0776)

Potential for growth is limited

Н4: strong clamping of spring within the range 1.0805-1.0944

Potential for growth is limited

Н1: downward correction towards the lower Bollinger band (1.0838)

Potential for growth is limited

Expectations: The main scenario - decline to 1.0838 and then move to 1.0907 and possibly to 1.0944. The alternative scenario - rise to 1.0944, and only then correction in the direction of 1.08438.

Trading solutions: Buy from 1.0838 and sales from 1.0944

Aleksey Panasenko
FreshForex Analyst
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