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Buy from 1.1031 to 1.11

Buy from 1.1031 to 1.11 | 28 July 2016

28 July 2016, EUR/USD

Daily chart: ADX is weak, but growing. The pair shows a desire to go to the upper envelope, and today's goal is the upper Bollinger band (1.1157)

Н4: the fourth bar outside the envelope - it is the time of correction. Support is at 1.1002 (middle Bollinger band plus round level). A direct surge to 1.1157 and a preliminary rollback to 1.1002 are equally probable (see the red arrow)

Н1: just a little better shaped support - 1.1031 (middle Bollinger band), resistance - 1.1097 (upper band)

Expectations: decline towards 1.1031 and then rise to the 1.1097

Solutions: purchase from 1.1031 to 1.1097

Aleksey Panasenko
FreshForex Analyst
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