Zone of potential supply - 1.11 | 18 July 2016

18 July 2016, EUR/USD

Daily chart: the bottom Bollinger band has dropped to a certain extent and points to 1.0933, where the relevant goal of bears is currently based. But now ADX is weak, so the movement is likely to be non-unidirectional.

Zone of potential supply - 1.11

Н4: expansion of Bollinger envelopes with corrective, but active ADX parameters - not an easy combination. But we are based on the bearish scenario though. Area of ​​the middle Bollinger band (1.1097) may be a major area of ​​supply for the euro.

Н1: active trend ADX. Support is at 1.1036 (the bottom Bollinger band), resistance is at 1.1088-1-1097 (middle band)

The main scenario - drop under the support 1.1036 and test of the 9th figure

The alternative scenario - trading in both directions within 1.1036-1.1088

Solutions: sale of the zone 1.1088 -1.1097 to 1.0933 (extraday)


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Aleksey Panasenko
FreshForex Analyst
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