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North has a slight advantage

North has a slight advantage | 27 May 2016

27 May 2016, EUR/USD

Daily chart: a continued technical correction around ​​the middle Bollinger band (1.1323), but against the backdrop of expanding envelopes and a hint at a downward reversal of the oscillator, we can anticipate a drop to the bottom band (1.1091) without a continued correction.

Н4: here we notice a very active ADX, so both surge to 1.1323 and a downward bounce off the upper Bollinger band (1.1224) are equiprobable. Given the bullish convergence, North has a slight advantage.

Н1: a local northern clamp inside the Bollinger envelope (1.1162-1.1198). ADX is passive, so trading may be delayed until Monday.

Expectations: The main scenario - surge 1.1224 and 1.1323

The alternative scenario - flat 1.1162-1.1198)

Trading solutions: we should be looking for buying options around 1.1162-1.1183 with the medium-term goal 1.1324. Such purchases can not be considered safe, so it is reasonable to abstain from trading until Monday.

Aleksey Panasenko
FreshForex Analyst
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