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The price may get adjusted upward from 1.1245

14 April 2016, EUR/USD

Daily chart: bulls predictably failed to keep the trend in their hands, and now the pair is falling deeper to the bottom Bollinger band (1.1122)

Н4: Multiple bars outside Bollinger envelopes anticipate northern correction. The best possible goal of such a rollback - middle Bollinger band (1.1360), from where we can re-sell the pair

Н1: potential local bottom today - 1.1245 (the bottom Bollinger band). There are a lot of resistance points, so those traders who try to work with the upper outlook will suffer from stress much. The levels of 1.1282, 1.1321, 1.1360 - each of them will create turbulence and perhaps provide some areas of demand in the euro.

Expectations: touch of 1.1245 and beginning of an upward correction to 1.1282, 1.1321, 1.1360 Trading solutions: carefully buy from 1.1245 to these levels. It is better to wait for the confirmation signal on H1.

Aleksey Panasenko
FreshForex Analyst
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