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Finalization of 1.0894 is expected

21 October 2016, EUR/USD

Daily chart: the lower Bollinger band fell to 1.0894 and now bears are threatening to get deeper. ADX and oscillator are in extreme areas, such a strong pressure will be not so easy to stop.

Finalization of 1.0894 is expected

Н4: the inside bearish bar is a strong continuation signal, but local ADX is weak, so we can not exclude an upward correction to the middle Bollinger band (1.0981)

Finalization of 1.0894 is expected

Н1: better shaped levels of support/resistance - 1.0916/1.0955 (lower and middle Bollinger bands, respectively). ADX is also weak, so the best tactic will be selling from 1.0955.

Finalization of 1.0894 is expected

Expectations: fall to 1.0916 and 1.0894 (possibly after touch of 1.0955)

Solutions: Sell from 1.0955 to 1.0916 and 1.0894

Aleksey Panasenko
FreshForex Analyst
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