manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
QIWIInstant top-up
Log in

Euro. Analysis of Friday's Close

23 May 2016, EUR/USD

Daily chart: a very active ADX looks ambiguous because of rebound of the pair from the lower Bollinger band. However, I am favor of the southern continuation (because of the well-shaped divergence of oscillator. On this background, Euro is attempting to grow. Also, we notice expansion of envelopes that can be a sign of continuation of the current trend)

Euro. Analysis of Friday's Close

Н1: a local northern accumulation and convergence. Upon that, ADX has not reached the trend zone yet, which enables a continued consolidation around the top envelope (1.1214-1.1229). Though we recognize that the range is too small for the euro.

Euro. Analysis of Friday's Close

Expectations: The main scenario - surge to 1.1250 and a return to 1.1197-1.1214

The alternative scenario - asluggish flat 1.1197-1.1229

Trading solutions: 1. Buy from 1.12 to 1.1250

2. Scalpers can just sell from 1.1250 to 1.12

Aleksey Panasenko
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.