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A continued downward correction

22 August 2016, EUR/USD

Daily chart: target downward correction in the direction of the middle Bollinger band (1.1155) has been launched.

Н4: trend pressure from ADX also favors sellers.

Н1: local resistance 1.1306 (middle Bollinger band and round level), from where the price is expected to continue to fall to 1.1248 and 1.1155.

Expectations: in growth to 1.1300 - 1.1306 and then decline towards 1.1248 and 1.1155

Solutions: sale from 1.1300 - 1.1306 to 1.1248 and 1.1155.

Aleksey Panasenko
Analyst of «FreshForex» company
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