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Euro. Possible flat "break"

Euro. Possible flat "break" | 07 June 2016

07 June 2016, EUR/USD

Daily chart: the upper Bollinger band (1.1451) looks unbroken, plus in this area it can be seen a bearish pattern Over&Under, so be patient to go down at the right price.Euro. Possible flat "break"H4: confirm the focus on 1.1451 (ascending upper Bollinger band), as well we see that the pair is overbought, which, again, increases the probability of further south scenario.Euro. Possible flat "break"H1: it is impossible to exclude an intraday scenario with a break in a narrow flat within the Bollinger envelopes (1.1338-1.1374) — ADX is weak, envelopes are stable.Euro. Possible flat "break"Expectations: The main scenario is flat 1.1338-1.1373.

Alternative scenario is a growth to 1.1451 and a sharp rebound down.

Trading solutions: 1. We place limit orders to sell in the area of 1.1451.

Aleksey Panasenko
FreshForex Analyst
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