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Looking for buying on a pullback to 1.1178

29 March 2016, EUR/USD

Daily chart: growth caused by break-up of the inside bar and determination of the upper band Bollinger band to 1.1354. But passive ADX confuses me, which may indicate non-impulse nature of further movement, which, in turn, complicate placing stop orders by the bulls

Looking for buying on a pullback to 1.1178

Н4: but here we see the trend ignition from ADX in favor of bulls. The impetus to 1.1354 seems quite possible. Well, let's check respond of the daily ADX to H4-frame.

Looking for buying on a pullback to 1.1178

Н1: exactly the middle of the upper range of the envelope - the worst possible place to open trades. We should wait for a possible pullback to support of 1.1178 (middle Bollinger band), from where we can buy to 1.1215 (upper band) and 1.1354 (extraday).

Expectations: pullback to 1.1178 and then growth to 1.1215 and the price may be able to finalize 1.1354

Trading solutions: buy from 1.1178 to 1.1215 and 1.1354.

Aleksey Panasenko
Analyst of «FreshForex» company
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