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Preparation for bullish movements

Preparation for bullish movements | 26 April 2016

26 April 2016, EUR/USD

The daily chart: yesterday the inside bullish bar from the bottom Bollinger band (1.1207) was obtained, which is a significant signal for growth. The target is the upper Bollinger band (1.1446), but since ADX is passive, probably more than one day (and perhaps not even two) is required to finalize it. At the same time, smth but for Buy trades is not recommended

Н4: local confirmation of bullish expectations - convergence of the oscillator. We expect movement towards resistance 1.1359 (the upper Bollinger band, plus a strong pivot).

Н1: a bullish momentum, but also on the weak ADX. This may indicate that the market is ready to break through the upper envelope provided another correction to the middle band (1.1253) will run.

Expectations: The main scenario - breakthrough to 1.13 and then a rollback to 1.1253 and a new wave of growth towards 1.1359

The alternative scenario - a direct surge to 1.1359

Trading solutions: we are looking for purchases around 1.1253 to 1.1359 (1.1446 and medium-term)

Aleksey Panasenko
FreshForex Analyst
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