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Looking for upward entry points on decline

15 August 2016, EUR/USD

Daily chart: ADX is growing and is very close to the trend area, which may lead to growth on breakthrough of the upper Bollinger envelope (1.1227) and with an eye on 1.1335.

Looking for upward entry points on decline

Н4: the inside bearish bar from the upper Bollinger band may make the pair drop to the bottom band (1.1090), but we should not underestimate the support 1.1147 (middle Bollinger band)

Looking for upward entry points on decline

Н1: support areas are 1.1147-1.1157 and 1.1118 (bottom Bollinger band)

Looking for upward entry points on decline

The main scenario - touch of zone 1.1147 - 1.1157 and surge to 1.1227

The alternative option - decline to 1.1118 and then working out of the northern plan

Solutions: search for upward entry points around 1.1147 - 1.1157 and 1.1118.

Aleksey Panasenko
Analyst of «FreshForex» company
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