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Looking for buying options around 1.11

15 July 2016, EUR/USD

Daily chart: the pair has almost reached the middle Bollinger band (1.1143) and ADX is interested in what is going on. This means that further upward movement towards 1.1335 (Upper Bollinger Band) is probable. At the same time, of course, the bearish scenario (decline to 1.0951; the blue arrow) can be relevant, too.

Н4: ADX in the active zone, so from support lines 1.1097 or 1.1049 (middle and lower Bollinger bands) a new growth is expected.

Н1: On the local level, the pair is consolidated inside the corridor 1.1097-1.1143, where trading can run. The impulse can be worked on Monday

The main scenario - ascending flat within 1.1097-1.1143

The alternative scenario - a northern impulse to 1.12

Solutions: Buy from around 1.11.

Aleksey Panasenko
FreshForex Analyst
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