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Bears in the Arena

12 August 2016, EUR/USD

Daily chart: the pair continues to stay within the upper Bollinger envelope (1.1090 - 1.1222)

Н4: The bearish pattern Over&Under is being worked out; the goal is 1.1051 (bottom Bollinger band)

Н1: a local resistance 1.1157 (middle Bollinger band), from where we can again consider sales of euro. Here ADX is not so active, so there may be delays at 1.1128 and 1.1090

Expectations: and now, we waiting euro to fall to 1.1128, 1.1090 and 1.1051. Pre-tes resistance 1.1157 is possible

Solutions: sell to 1.1090 and 1.1051 (the best possible range is between 1.1147)

Aleksey Panasenko
FreshForex Analyst
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