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Northern preparation

Northern preparation | 28 April 2016

28 April 2016, EUR/USD

Daily chart: ADX is growing, but has not reached the trendline area yet. The pair shows a bullish determination, though a moderate one (which is the same as the ADX parameters convey). A downward local structure is also present here, so we cannot definitely vote for "north"

Н4: at the local level we have a very active ADX and a vague influence of news. In view of the expanded Bollinger envelope we assume that a bullish scenario has a priority, which will be activated by breakthrough beyond the upper envelope (1.1345).

Н1: here ADX is weak, but we see that in general this rebuild can be treated as northern preparation, so the flat corridor is 1.1291-1.1345.

Expectations: The main scenario - flat 1.1291-1.1345

The alternative scenario - surge above 1.1345 and to 1.14

Trading solutions: look for buying options around 1.1291-1.1314

Aleksey Panasenko
FreshForex Analyst
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