A downward rebound from 1.1207 is expected
22 September 2016, EUR/USD
Daily chart: the lower Bollinger band (1.1118) has held the bearish front, confirming continuation of the flat within the Bollinger envelopes (1.1118-1.1305). Now the flat is rising, so it makes a sense to look for upward trading options. ADX is corrective, so do not expect a unidirectional impulse distribution.
Н4: local resistance is at the upper Bollinger band (1.1207), above which bulls are unlikely to go, because ADX is falling. But if this happens, the price can surge to 1.1305.
Н1: I definitively confirm strength of resistance 1.1207 - ADX contradicts to RSI, so we are waiting for a downward rebound towards 1.1155 (middle Bollinger band)
Expectations: Now we are waiting for growth to 1.1207 and then a downward bounce to 1.1155
Solutions: sales from 1.1207 to 1.1155.
Aleksey PanasenkoAnalyst of «FreshForex» company
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