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Still preparing to go to the north

30 June 2016, EUR/USD

Daily chart: an ongoing successful technical upward correction of the pair toward the middle Bollinger band (1.1242), from where the euro is expected to start another decline.

Still preparing to go to the north

Н4: ADX is close to trend, which confirms local northern determination of the pair. The intermediate resistance is at the upper Bollinger band (1.1142)

Still preparing to go to the north

Н1: insufficient parameters of ADX, so the upward movement will involve correction to 1.1084 (middle Bollinger band)

Still preparing to go to the north

The main scenario - touch of 1.1142, then a return to 1.1084 and then a new wave of growth to 1.1242 (with one day delay in the task of reaching the target)

The alternative scenario - a direct surge to 1.1242

Trading solutions: buy from 1.1084 to 1.1142 and 1.1242.

Aleksey Panasenko
FreshForex Analyst
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