manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Close
Log in

Another prick of 1.0950 and an upward reversal

19 October 2016, EUR/USD

Daily chart: ADX is getting even stronger as the price is nearing 1.0950 - a strong support zone, thus, we can expect an upward reversal. At least, we should track possible Long signals at this area.

Another prick of 1.0950 and an upward reversal

Н4: a common situation for bullish convergence of the oscillator: an attempt to avoid formation of a new Low, that, in fact, just strengthens a reversal momentum. An indirect confirmation of this is weak ADX.

Another prick of 1.0950 and an upward reversal

Н1: local ADX pressure in favor of sellers is still maintained. Support is in the same area - 1.0950-1.0962 (lower Bollinger band).

Another prick of 1.0950 and an upward reversal

Expectations: finalization of 1.0950 - 1.0962 (with possible pricks much lower, but with an intense upward return) and then start of correction

Solutions: search for Buy signals around 1.0950 - 1.0962.

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .