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We are looking for sales point to 1.1207

13 May 2016, EUR/USD

Daily chart: flat tendency to the middle Bollinger band (1.1361) is on. The price may get both to the upper band (1.1522) and to the bottom one (1.1207). Taking into account yesterday inside bearish bar, southern scenario will prevail

We are looking for sales point to 1.1207

Н4: a very active trend ADX anticipates attack of the support 1.1350 (the bottom Bollinger band) targeting 1.1207.

We are looking for sales point to 1.1207

Н1: Local support is at 1.1355, creating a dense zone 1.1350-1.1355. The price can rebound to the middle Bollinger band (1.1381), where the most promising downward entry points will be found.

We are looking for sales point to 1.1207

Expectations: The main scenario - decline to 1.1350, then a pullback to 1.1381 followed by beginning of an intense decline towards 1.1207 (extraday)

The alternative scenario - breakout below 1.1350 will enable a direct decline to 1.1207

Trading solutions: sell on pullbacks from 1.1381 to 1.1207

Aleksey Panasenko
FreshForex Analyst
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