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Potential area for sales - 1.1334

16 May 2016, EUR/USD

Daily chart: on Friday bears broke thr inside bar and thus have received a foundation to finalize zone 1.12 (the lower Bollinger band). But we see that the movement is running on weak parameters to ADX, so there may be surprises such as a return to the middle band (1.1357)

Н4: equiprobable options: a direct drop to 1.12, and a correction in the area of ​​the middle Bollinger band (1.1357-1.1379)

Н1: a better shaped range 1.1276-1.1334.

Expectations: Now, wait for a return to 1.1334 and a downward movement first to 1.1276 and then, possibly, to 1.12

Trading solutions: Sell from 1.1334 to 1.1276 and 1.12

Aleksey Panasenko
FreshForex Analyst
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