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We sell the euro to 1.1233

06 April 2016, EUR/USD

Daily chart: the pair is going through a technical downward correction in the direction of the middle Bollinger band (1.1233). Given a notable overboughtness and bearish divergence of the oscillator, we can assume lower medium-term goals to be reached (eg 1.0996 (the bottom Bollinger band).

We sell the euro to 1.1233

Н4: downward pressure; we are waiting for the beginning of mining to 1.1233

We sell the euro to 1.1233

Н1: Bollinger envelopes are horizontal, which enhances support around the bottom band (1.1355). However, a very active ADX increases a probability of a break below and start of a descending movement

We sell the euro to 1.1233

Expectations: The main scenario - decline to 1.1233

The alternative scenario - on a failure to pass the support 1.1355 - flat 1.1355-1.1383

Trading solutions: sell to 1.1233

Aleksey Panasenko
FreshForex Analyst
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