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Euro. Correction to 1.1353 is expected

10 June 2016, EUR/USD

Day chart: obvious bearish momentum after the "collision" of a pair with the upper Bollinger band. So expect a continued decline in the direction of 1.1236 and 1.1071 (middle and lower bands of Bollinger, respectively). Euro. Correction to 1.1353 is expected H4: resistance is located at the middle Bollinger band (1.1353), sell from this area (in the case of correction). The next goal - 1.1236. Euro. Correction to 1.1353 is expectedH1: there is a local bullish convergence oscillator. It is possible that the pair will test the lower band (1.1284) and then go to 1.1353. Euro. Correction to 1.1353 is expectedExpectations: The main scenario: touching 1.1316 and then fall to 1.1284, then correction up to 1.1353. The alternative scenario: direct correction to 1.1353 and then the beginning of a new decline to 1.1236. Trading solutions: 1) Sale from 1.1353 to 1.1236.

Aleksey Panasenko
FreshForex Analyst
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