Wait for downward correction

04 February 2016, EUR/USD

Day chart: a pivot is expected to appear at this currency pair, because we have a broken upper Bollinger envelope, and it is a signal of pull back to middle Bollinger band (1.09)

Wait for downward correction

H4: there is more localized support at middle Bollinger band (1.0938)

Wait for downward correction

H1: resistance level at 1.1176 (upper Bollinger band). Intraday support level - 1.1062 (middle Bollinger band).

Wait for downward correction

Expectations: the pair will decrease to 1.1062 after touching 1.1176 Trading solutions: sell from 1.1176 to 1.1062. You had better wait for signal at small timeframes.

Aleksey Panasenko
FreshForex Analyst
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