Going North

09 September 2016, EUR/USD

Daily chart: ADX favors buyers, but so far it has not reached the trendline area, and Bollinger bands remain a stable horizontal determination. Northern target is at the upper band (1.1365)

Н4: inside bullish bar against very active ADX state indicates readiness of the price to surge to 1.1317 (upper Bollinger band), but most probably - to break through to 1.1365.

Н1: ADX is starting in the active zone, which confirms our assumptions about the market going to be bullish. In this case Bollinger envelopes are stable, which forms resistance around 1.1297 (upper Bollinger band plus the round level). But the trend status of ADX is a strong sign of a breakthrough, so we do not consider any sales from the resistances.

Expectations: Now, we are waiting rise towards 1.1365, with potential complications at the level of 1.1297, 1.1317

Solutions: purchase to 1.1365.

Aleksey Panasenko
FreshForex Analyst
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