Log in

Correction towards 1.1056 is on

18 October 2016, EUR/USD

Daily chart: the upward correction started: Bears managed to hold the support from the lower Bollinger band (1.0967) and now in the medium run the way toward the middle Bollinger band (1.1153) is open.

Н4: another sign of weakening of thelocal bearish front is bullish convergence of the oscillator. Support is 1.0967 (the lower Bollinger band). Resistance is around 1.1056 (upper Bollinger band).

Н1: a better shaped support is 1.0990 (middle Bollinger band), this is where we can find buy signals in the direction of 1.1056.

The main scenario - a rollback to 1.0990 and then rise to 1.1056, The alternative scenario - a deeper pullback down to 1.0967 and then test in the upper part to 1.1056

Trading solutions: look for the upward entry points around 1.0990 and 1.0967

Aleksey Panasenko
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.