Zone of potential purchases - 1.1403

12 May 2016, EUR/USD

Daily chart: yesterday buyers made a "trap" for bears, having finalized support from the middle Bollinger band (1.1351). Now the price is much likely to achieve top line (1.1522). But we shall not ignore passive ADX, that can produce a flat character of the movement.

Н4: So far, the upper Bollinger band (1.1437) is "holding" the price, so the middle band (1.1403) can become area of ​​possible demand for euro.

Н1: The pair is clamped within the upper envelope (1.1403-1.1446). We confirm the possibility of purchases around 1.1403 area.

Expectations: now we expect trading within the range 1.1403-1.1446 and then surge to 1.1522. It is possible that the scenario will be delayed for one day when it comes to the task of reaching the top goal

Trading solutions: buy from 1.1403 to 1.1522.

Aleksey Panasenko
FreshForex Analyst
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