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We expect touch of 1.1350 and an upward bounce

We expect touch of 1.1350 and an upward bounce | 08 April 2016

08 April 2016, EUR/USD

Daily chart: wide-scale restructuring against very active ADX. Overall character of the movement - North. But the pair is exactly in the middle of the upper Bollinger envelope, so with equal probability the price can either touch the middle band (1.1247) or hit the top band (1.1467).

If support 1.1247 is broken, we will also see drop to the bottom band (1.1020, red arrow)

Н4: horizontal flat corridor inside the Bollinger envelope (1.1350-1.1416)

Н1: a more localized corridor inside the bottom envelope (1.1350-1.1390)

Expectations: finalization of support 1.1350 and then an upward bounce to 1.1390 ​​

Trading solutions: purchase from 1.1350 to 1.1390

Aleksey Panasenko
FreshForex Analyst
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