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Euro. Buy in 1.0905-1.0919 zone

31 October 2016, EUR/USD

Daily chart: middle Bollinger band is still actual. This preserves the overall dynamics of the south in the direction of the lower band (1.0795). Accordingly, it is possible to expect growth to the middle band and then drop to the lower.

31102016e1

H4: upper Bollinger envelope is broken. So, we expect a return to the middle band (1.0919), where it will be possible to open buy trade for 1.1034 (daily average).

31102016e2

H1: note the 1.0905-1.0919 support area. In this area I predict the formation of long signals today.

31102016e3

Expectations:so, we expect the pair in the 1.0905-1.0919 area, where some growth can begin in the direction of 1.1034.

Trading solutions: waiting for the price in the area of 1.0905-1.0919 and buy at the formation of the reversal signal to the upside.

Aleksey Panasenko
Analyst of «FreshForex» company
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