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Looking for new Sell entry points

25 May 2016, EUR/USD

Daily chart: a very active trend phase of ADX is justified and there are all preconditions for the continuation of the bearish trend. No purchases, only sales.

Looking for new Sell entry points

Н4: theoretically, the middle Bollinger band (1.1198) can become zone of possible demand in the Euro.

Looking for new Sell entry points

Н1: another local intermediate resistance 1.1159 (middle Bollinger band) area. Support is at 1.1116 (lower Bollinger band)

Looking for new Sell entry points

Expectations: So, in general, we expect decline, but we can not exclude the scenario with the upward correction to 1.1159-1.1198

Trading solutions: Look for new Sell entry points around 1.1159 and 1.1198. The goals may be in the 10th figure

Aleksey Panasenko
FreshForex Analyst
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