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Range of the day 1.1040-1.1112

14 July 2016, EUR/USD

Daily chart: the pair is still consolidated within the bottom Bollinger envelope (1.0957-1.1152). The corridor may be extended on the move above the middle band (1.1152). In this case, there will be a way to grow to 1.1356 (the upper band; red arrow).

Н4: a better shaped horizontal channel 1.1018-1.1112 (the range of Bollinger band)

Н1: a better shaped support - 1.1040 (the bottom Bollinger band)

Expectations: decline towards 1.1040 and then an upward bounce towards 1.1112

Solutions: 1. Sales to 1.1040

2. Buy from 1.1040 to 1.1112

Aleksey Panasenko
FreshForex Analyst
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