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Decline to 1.1185

24 August 2016, EUR/USD

Daily chart: a downward correction in the direction of the middle Bollinger band (1.1185) - ADX/RSI points to that.

Decline to 1.1185

Н4: accumulation of local bearish potential. Probably, we will see a break of the bottom envelope (1.1279) and then return to the middle band (1.1314), and only after that - the main phase of decline.

Decline to 1.1185

Н1: local ADX is already very strong, so we wait for attack of support 1.1279

Decline to 1.1185

Expectations: fall to 1.1185. The trajectory is likely to be as follows: break of 1.1279, then a return to 1.1314 and then drop

Solutions: sell from zone 1.1300 - 1.1314 to 1.1185

Aleksey Panasenko
FreshForex Analyst
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