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The range 1.1242 - 1.1272

The range 1.1242 - 1.1272 | 25 August 2016

25 August 2016, EUR/USD

Daily chart: the pair has continued a downward correction in the direction of the middle Bollinger band (1.1200). ADX is in a corrective phase.

Н4: confirmed locally bearish pressure as the decline within a day continues. Psychological level 1.1200 may be the goal.

Н1: a better shaped support around 1.1242 (the bottom Bollinger band). ADX is going through correction, so, apparently, the goal 1.1200 will be finalized another day. Resistance - 1.1272 (middle Bollinger band)

Expectations: So, in general, bearish dynamics towards 1.1200 remains, but today support is expected to be at 1.1242, from where the pair is expected to get corrected to 1.1272, where it will be possible again to look closely to sales to 1.1200.

Solutions: 1.1242 - 1.1272 range is too narrow for a safe trading. We would prefer to sell on correction to 1.1272 to target 1.1200 extraday

Aleksey Panasenko
FreshForex Analyst
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