Drop to 1.1181 | 22 June 2016
22 June 2016, EUR/USD
Daily chart: the pair is predictably going through correction on weak ADX. Thus, our basic expectation is a continued decline towards 1.1072 (the lower Bollinger band) or a flat around the middle band (1.1239)
Н4: a better shaped support from the lower band Bollinger (1.1181) and corrective parameters of ADX as well.
Н1: local ADX parameters are bearish. The pair is consolidated within the lower envelope (1.1239-1.1304), but everything aims to break up to 1.1181
The main scenario - decline to 1.1181 and an upward bounce.
The alternative scenario - touch of 1.1304 followed by decline towards 1.1181
Solutions: Sell to 1.1181 (the best possible way - from 1.1304)
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.
