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Correction down to 1.1215 and buy Euro again

30 March 2016, EUR/USD

Daily chart: the pair predictably was found the bullish rally and now the level of 1.1374 (Upper Bollinger Band) seems perfectly reachable. ADX has not yet reached the value of the trend, but got interested with the buyers initiative.

Н4: So far, the well-shaped breakthrough of the upper Bollinger envelope has not let the price roll back to the middle band's area (1.1185), but this situation usually develops before northern pressure.

Н1: classic "4 bars behind the envelope" with great probability will enable correction in the area of ​​the middle Bollinger band (1.1215), where it will be possible to search for the upward entry points once again

Expectations: And now, we are waiting for the pullback from current levels down to 1.1215, where once again we will be waiting for the medium-term momentum up with the aim of 1.1374

Trading solutions: 1 We sell from the current levels to 1.1215 2. After reaching 1.1215 we should look for buy signals and enter when they appear.

Aleksey Panasenko
Analyst of «FreshForex» company
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