manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Close
Log in

Euro. Waiting for new highs and then a downward correction

03 November 2016, EUR/USD

Daily chart: the pair confidently displayed in the upper Bollinger envelope and now the goal is the upper band (1.1217). Downward correction is likely to appear soon.

03112016e1

H4: there is bullish potential. But the high overbought, so the case is obviously closer to the downward pullback toward the middle Bollinger band (1.1105, 1.1029).

02112016e2

H1: finally confirmed by a local weakening of bullish front, as evidenced by bearish divergence. Waiting for the approval of new highs, and then the beginning of a downward correction.

02112016e3

Expectations:so, we wait for retest of 1.1200-1.1217 zone and then the start of a downward rollback.

Trading solutions:

Long positions to 1.1200-1.1217 Short from 1.1200-1.1217 to 1.1105.
Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .