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Accumulating northern potential

03 March 2016, EUR/USD

Daily chart: day was closed by good bullish pin which can make price correction to middle Bollinger line (1.1086), but bulls trap couldn’t be exclude so ADX is very active as a previous movement.

Accumulating northern potential

Н4: local resistance is on 1.0931 (upper Bollinger line). Rising movement will be bored by this level ADX is correcting.

Accumulating northern potential

Н1: north potential is increasing but ADX isn’t in zone of trend activity. Growth will have two stages. Firstly it will be break through of upper Envelope and then pullback to middle line (1.0858) and then the main stage of growth to 10931.

Accumulating northern potential

Expectation:

Main possibility- break through to 1.09 then pullback to 1.0858 and new rising wave up to 1.0931

Alternative possibility - straight growth to 1.0931.

Trading decisions: buy from 1.0858 to 1.0931

Aleksey Panasenko
FreshForex Analyst
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