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Wait for correction from 1.1258

Wait for correction from 1.1258 | 05 February 2016

05 February 2016, EUR/USD

Day chart: the pair had a raise after breaking of upper Bollinger envelope, that’s why both scenarios are equally (black/red arrows).

Wait for correction from 1.1258

H4: the pair didn’t test upper Bollinger band (1.1246). And the price is expected to move downwards to middle Bollinger band (1.1006).

Wait for correction from 1.1258

H1: the price is going towards 1.1258 zone, but there is a oscillator divergence, but in general I wait moving to 1.1158 and 1.1051

Wait for correction from 1.1258

Expectations: touch 1.1258 area and then a downward correction to 1.1158 and 1.1051. Trading solutions: sell from 1.1258 to 1.1158 and 1.1051

Aleksey Panasenko
FreshForex Analyst
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