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The main scenario - flat 1.13-1.1335

17 May 2016, EUR/USD

Daily chart: As we see, ADX is still in the passive zone, so bears have a hindrance in the task of finalizing the bottom Bollinger band (1.1193) and the price may be rebuilt in the middle zone area(1.1353).

Н4: the price is concentrated in the lower Bollinger envelope (1.1272-1.1352)

Н1: also a corrective ADX, local support is about the "round level" 1.13 (the lower Bollinger band) resistance is at 1.1335 (upper band).

Expectations: The main scenario - flat 1.1300-1.1335

The alternative scenario - decline to 1.1272 and then correction towards 1.1352

Trading solutions: the range of basic scenario hardly allows trading. Under a more volatile alternative scenario, we will consider buying around 1.1272 and selling around 1.1352

Aleksey Panasenko
FreshForex Analyst
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