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Euro. Preparing for new sales

Euro. Preparing for new sales | 28 October 2016

28 October 2016, EUR/USD

Daily chart: there was a bearish inside bar yesterday, which can be considered a distinct signal to the euro in sales towards the lower Bollinger band (1.0785).

28102016e1

H4: local sellers do not have the trend support from ADX, so inside the present day (and, accordingly, this week) a couple can restrain the horizontal channel 1.0864-1.0928 (range of Bollinger envelopes).

28102016e2

H1: bearish chart, but we also see weak and passive ADX envelopes (with support in the area of 1.0884, lower Bollinger band). Resistance is at the middle band (1.0905), where the rollback is possible in case of the break of the lower envelope.

28102016e3

Expectations:So, we have a southern direction here. The overall goal is 1.0785, but the support of 1.0884 and 1.0864 may delay euro today.

Trading solutions: consider selling towards 1.0864 and 1.0785.

Aleksey Panasenko
FreshForex Analyst
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