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We should sell on surge to 1.12

05 August 2016, EUR/USD

Daily chart: the pair is aimed at the upper Bollinger band (1.1205), and the movement has no trend signs

Н4: around psychological resistance 1.12 we notice a bearish pattern Over&Under. You can put sell limit orders with a stop loss above the recent highs.

Н1: at this local level we see the bullish potential, which corresponds to expectation of growth to 1.1198 on H4 chart

Expectations: surge to 1.12 followed by an abrupt decline

Trading solutions:

1. Purchase to 1.12

2. Sales from 1.12. On Thursday the leading stock exchanges demonstrated a moderately positive dynamics, but bulls were unable to extract dividends from this trend on this pair. Investors ignore positive background only in one case, when there are strong sellers on the market.

Aleksey Panasenko
Analyst of «FreshForex» company
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