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Zone of potential supply - 1.11

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)

Aleksey Panasenko
FreshForex Analyst
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