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
Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us