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

Rising correction

26 May 2016, EUR/USD

Daily chart: a technical upward correction to the middle Bollinger band (1.1332) is likely, because ADX/RSI show contradiction

Н4: a better shaped resistance 1.1246 (upper Bollinger band). ADX is not strong enough to make a breakthrough yet. At the same time, growth is noted on the background of bullish convergence of the oscillator, which may indicate an upward reversal.

Н1: at this level, buyers are in good shape. We have a few bars in a row outside Bollinger envelopes, so the best possible upward entry point is the middle Bollinger band (1.1157).

Expectations: now we are waiting for touch of 1.12 followed by correction to 1.1157, from where we will again wait for a new northern wave in the direction of 1.1225-1.1246

Trading solutions: Buy from 1.1157 to 1.1225-1.1246

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.