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Bulls have a chance to finalize 1.14

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

Aleksey Panasenko
FreshForex Analyst
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