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Selling from around 1.1155

28 June 2016, EUR/USD

Daily chart: the upward correction suggest itself in the direction of the middle Bollinger band (1.1240) - the pair has broken the lower envelope; from a technical point of view, this rollback is justified, plus yesterday the inside bar was obtained.

Н4: here we see that the lower Bollinger band (1.0857) has not been finalized yet, we do not expect the euro above the local middle band (1.1155). Not only that - we sell the pair out of this zone.

Н1: a flat corridor within the Bollinger envelopes (1.0977-1.1071) can be broken, because ADX is based in the trend area (though not growing).

The main scenario - growth to 1.1155 followed by another decline towards 1.0857.

The alternative scenario - flat 1.0977-1.1071

Trading solutions: sales from 1.1155 to 1.0857

Aleksey Panasenko
FreshForex Analyst
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