Bulls have a chance to finalize 1.14 | 20 June 2016

20 June 2016, EUR/USD

Daily chart: ADX activity is in favor of buyers, but it has not reached the trend. Therefore, we expect growth in the direction of the middle Bollinger band (1.1397) after trading around ​​the middle band (1.1238).

Н4: a strong resistance around the upper Bollinger band (1.1292) against weak local ADX. Most likely, we will see a rebound down towards 1.1238.

Н1: here, in turn, ADX is active again, so we have to wait for the outcome. In the event of a break above 1.1292, growth will be relevant, and movement under the middle Bollinger band (1.1260) will enable a downward reversal (see blue arrow.)

The main plan - surge to 1.1400 (in the case of a break above 1.1292)

The alternative plan - decline to 1.1260 and maybe toward 1.1238

Trading solutions: purchase on breakdown of 1.1292 to 1.1400


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Aleksey Panasenko
FreshForex Analyst
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