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We expect decline, but northern correction is possible

We expect decline, but northern correction is possible | 27 June 2016

27 June 2016, EUR/USD

Daily chart: Here is the broken lower Bollinger envelope, so in general we expect a deeper decline, but before that a rollback to the middle band (1.1242) possible, where now the best possible downward entry points are based.

Н4: there is a potential for a rollback to the middle band (1.1242), although expansion of the envelope is big, which may lead to a new drop without pullbacks.

Н1: grip within a wide range 1.0936-1.1242 greatly complicates trades

The main scenario - flat within a wide range 1.0942-1.1242

The alternative scenario - directional correction to 1.1242, from where another drop will start. Solutions: On growth to 1.1242 - sell to 1.0942

Aleksey Panasenko
FreshForex Analyst
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