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Start of a a rollback to 1.1240

15 February 2016, EUR/USD

Daily chart: technical correction in the direction of the middle Bollinger band (1.1020), from wherea new mid-term ascending wave can start.

Start of a a rollback to 1.1240

Н4: very active ADX, so we expect a break of the bottom Bollinger envelope and then enter down below the middle band (1.1271).

Start of a a rollback to 1.1240

Н1: a better shaped resistance at 1.1241 (the middle Bollinger band). Support - 1.1196. Probably, we will the one of the hourly bars below this level will be closed.

Start of a a rollback to 1.1240

Expectations: now we are waiting a dash under 1.1196 and then start of a rollback to 1.1241, from where we can sell the pair for a few days to the target 1.1020

Trading solutions: after break of the level 1.1196, we should put Sell limit orders from 1.1241 to hit 1.1020.

Aleksey Panasenko
FreshForex Analyst
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