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Still moving down

20 July 2016, EUR/USD

Daily chart: the pair tends to lowering in the direction of 1.0929 (the bottom Bollinger band). ADX is weak but growing. So far, buying is a dangerous strategy. Although a certain rollback in the area of ​​the middle band (1.1111) is possible. But it is better to use this rollback to enter into sales.

Still moving down

Н4: ADX is very active and has almost reached the trend value. Therefore, we do not expect the price above the middle Bollinger band (1.1075). Support is at 1.0997 and 1.0929

Still moving down

Н1: a better shaped resistance - 1.1041 (middle Bollinger band)

Still moving down

Expectations: a pullback to 1.1041, and then decline to 1.0992 and maybe toward 1.0929

Solutions: sales from 1.1041 to 1.0992 and 1.0929

Aleksey Panasenko
FreshForex Analyst
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