manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Close
Log in

Weakening of buyers

15 July 2016, GBP/USD

Daily chart: the bottom Bollinger band has shifted lower to 1.2300, which may indicate the upcoming end of the bullish movement (around 1.3594)

Weakening of  buyers

Н4: ADX is in the active zone, so a rebound from 1.3594 and further breakthrough are equally probable.

Weakening of  buyers

Н1: divergence of the oscillator is another sign of weakening of buyers. Local resistance is at 1.3464 (Upper Bollinger Band)

Weakening of  buyers

The main scenario - beginning of decline after a touch of 1.3464-1.35. The goals are 1.3357 and 1.3233

The alternative scenario - surge to 1.3594 followed by an abrupt downward reversal.

Solutions: look for Sell signals around 1.3464, 1.35, 1.3594.

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .