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Purchases to 1.0921 and possibly to 1.0976

27 January 2016, EUR/USD

Daily chart: the pair is still in the mid-range of 1.0775-1.0976 flat. ADX speaks for finalization of the upper wall of the channel, but has not reached a trend value yet.

Purchases to 1.0921 and possibly to 1.0976

Н4: Here, as we can seen, ADX closely approached the trendline area, so a break of the top envelope and impulse to 1.0976 are very likely.

Purchases to 1.0921 and possibly to 1.0976

Н1: a similar picture. Intermediate resistance 1.0921

Purchases to 1.0921 and possibly to 1.0976

Scenarios: The main scenario - rise to 1.0976 and then a downward roll back

The alternative scenario - a more moderate growth to 1.0921 followed by a downward roll back.

Trading solutions: purchase to 1.0921 and 1.0976

Aleksey Panasenko
FreshForex Analyst
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