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Euro. Traders will need patience

08 June 2016, EUR/USD

Daily chart: you can still expect for a touch of the upper Bollinger band (1.1451) before decreasing to 1.1251 (middle band). We note an increase in the activity of ADX, that can not be clearly interpreted in favor of bears yet. Euro. Traders will need patienceH4: the key support is 1.1318 (middle Bollinger band). If it keeps the pair, it will be possible to see a rebound to 1.1373 (the upper band. Look at the blue arrow). If a breakthrough below happens, then it the real goal will be 1.1156 (bottom Bollinger band, look at the purple arrow). Euro. Traders will need patienceH1: flat accumulation locally continues in the corridor 1.1348-1.1373, but the momentum of price movement is more bearish.Euro. Traders will need patience Expectations: The main scenario: decline to 1.1318 The alternative scenario: continuation of the flat 1.1345-1.1373 Trading solutions: keep patience until the picture is clear, or try to sell from 1.1373 to 1.1318.

Aleksey Panasenko
FreshForex Analyst
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