Euro. Again we sell from 1.09 area

25 October 2016, EUR/USD

Daily chart: the day was closed with bearish inside bar that tells us about the conservation of southern potential. Bollinger bands are also widened in favor of short positions, but the support area is very close (1.0854) and oversold very significant.


H4: there is a localized resistance at 1.0921 (middle Bollinger band), support dropped to 1.0832 (lower Bollinger band). ADX indicator is located in an aggressive area.


H1: locally the pair entered the calm horizontal band within the range of the envelopes Bollinger (1.0850-1.0897)



The main scenario - flat 1.0860-1.0900.

The alternative scenario is a decline to 1.0832

Trading solutions: sell from 1.0900 towards 1.0860, 1.0832.

FreshForex Analyst
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