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Key support - 1.1200

Key support - 1.1200 | 15 June 2016

15 June 2016, EUR/USD

Daily chart: bears managed to run break the lower envelope through, but nevertheless, ADX continues to remain passive, thus enabling further price fluctuations

Н4: key support - 1.1200 (the bottom Bollinger band plus round the psychological level). ADX is very active, so advantage belongs to bears

Н1: On the local level, the pair is consolidated in the lower envelope (range 1.1169-1.1233)

Expectations: The main scenario - touch of 1.1233 and then decline towards 1.1169

The alternative scenario - a direct drop to 1.11

Trading solutions: sales from 1.1233 to 1.1169 and 1.11

Aleksey Panasenko
FreshForex Analyst
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