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Skip the pullback to 1.1314 and sell to 1.1182

Skip the pullback to 1.1314 and sell to 1.1182 | 18 March 2016

18 March 2016, EUR/USD

Daily: ADX is growing its potential and so far we cannot link it to the new possible downtrend against yesterday's broken upward Bollinger envelope. But a rollback to the middle band (1.1048) fits the middle-term bullish scenario.

Н4: a better shaped support from the middle band (1.1182), from where the buyers will try to "hook" the price to 1.1374.

Should this support be broker, this frame can demonstrate a reversal potential.

Н1: local bearish tendency - broken downward Bollinger envelope and traders can open Short trades from the middle band (1.1314) to 1.1182 and probably to 1.1048.

Expectations: pullback to 1.1314 and a new downward to 1.1182.

Solutions: Skip the pullback to 1.1314 and sell to 1.1182

Aleksey Panasenko
FreshForex Analyst
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