We expect a corrective decline
10 December 2015, EUR/USD
Daily chart: the upper Bollinger envelope was once again breached. However, ADX is inactive, so we can expect a pullback to the area of the middle Bollinger band (1.0736), from where the main phase of the medium-term growth can start.
Н4: a well-expressed divergence of oscillator also speaks for downward correction.
Н1: as wee can see, the upper Bollinger band rushes to 1.1048, therefore, we allow for another breakthrough in this area. Support - 1.0956, 1.0894.
Expectations: The main scenario - decline to 1.0956, 1.0894. The alternative scenario - test of 1.1048 and only then decline towards 1.0956
Trading solutions: sales to 1.056, 1.0894
Aleksey PanasenkoAnalyst of «FreshForex» company
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