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Buy within the flat around 1.1282

19 April 2016, EUR/USD

Daily chart: ADX has a flat status, so we can expect the trend to rebuild at current levels. It makes the price closer to a new downward reversal, as conveyed by a well-expressed divergence of the oscillator.

Н4: the price has reached the local ceiling represented by the upper Bollinger band (1.1330), from where it is likely to drop in the direction of the levels 1.1282 and 1.1240 (middle and upper Bollinger bands).

Н1: a local upward movement with support based at 1.1303 and 1.1282 (middle and lower Bollinger bands). Resistance is at 1.1330 (Upper Bollinger).

Buy within the flat around 1.1282

Expectations: decline towards 1.1282 and then a new rise to 1.1330

Trading solutions: buying around 1.1282 to 1.1330.

Aleksey Panasenko
FreshForex Analyst
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