Preparation for impulse
15 September 2016, EUR/USD
Daily chart: still there is a flat around the middle Bollinger band (1.1250) and ADX shows the same. Nothing has changed except the apparent consolidation of all three middle Bollinger bands on all three frames. This is an additional indicator of coming impulse, but, apparently, it will not happen today.
Н4: a horizontal flat corridor 1.1215 - 1.1250 (Bollinger bands range). ADX is weak and is going through correction.
Н1: at this local frame ADX has a trend interest. The price chart shows a number of bars, but we can see a clear bullish momentum. Therefore support is 1.1242 (middle band) and 1.1218 (bottom Bollinger band), we can look for buy signals on a breakthrough above 1.1264 (Upper Bollinger Band).
The main scenario - touch of 1.1242, and a rise above 1.1264 (to 1.13)
The alternative scenario - decline to 1.1218 and then towards 1.1264 with an eye to 1.13
Trading solutions: search for buy signals around 1.1242 and 1.1218.
Aleksey PanasenkoAnalyst of «FreshForex» company
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