manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

Ready for bullish distribution

02 August 2016, EUR/USD

Daily chart: ADX in a very active phase, so we can expect beginning of a bullish momentum towards 1.1335.

Н4: local resistance is at 1.1217 (upper Bollinger band), from where a correction may start towards the middle band (1.1129).

Н1: at this local level, we also have a bullish accumulation and readiness for distribution.

The main scenario - growth to 1.1339

The alternative scenario - surge to 1.1217, then correction to 1.1129

Trading solutions: We consider buying to 1.1339 (and monitor how the price reacts to the resistance zone 1.1217 to possibly settle in profit there)

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .