Euro. The bulls could bring price to 1.1248

02 November 2016, EUR/USD

Daily chart: the pair has achieved the upper Bollinger envelope, and now the bulls have all chances to go to upper band (1.1248), which, in turn, price could once again return to the middle band (1.1011)


H4: a very aggressive ADX indicates full readiness of traders to the exploits and, accordingly, an increase to 1.1248. This oscillator shows that the pair slightly overbought, which opens the possibility for correction.


H1: there is a local support level of 1.1011 (middle Bollinger band).


Expectations:So, in general, we are waiting for growth toward 1.1248, but some rollback is possible in the area of 1.1011.

Trading solutions: looking for entries in the 1.1011 zone to 1.1248.

Aleksey Panasenko
FreshForex Analyst
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