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The upward correction from around 1.0939

25 July 2016, EUR/USD

Daily chart: Bollinger envelopes are narrowing around the support zone 1.0966, indicating a possibly coming impulse distribution. ADX is growing, but has not reached the trendline area yet. Therefore, taking into account the overall bearish direction, it is better to wait for sales opportunities at the middle Bollinger band (1.1056)

The upward correction from around 1.0939

Н4: a better shaped range - 1.0966-1.1007. The oscillator has signs of bullish convergence that also gives buyers the opportunity to get the price corrected.

The upward correction from around 1.0939

Н1: in the intraday scale, the price is gripped inside the bottom envelope - 1.0939-1.10981

The upward correction from around 1.0939

Expectations: now, we are waiting for decline towards 1.0939 followed by surge to 1.0981

Solutions: purchase from 1.0939 to 1.0981

Aleksey Panasenko
FreshForex Analyst
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