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Finalization of 1.1200 and drop

07 November 2016, EUR/USD

Daily chart: the pair is in the upper Bollinger envelope, ADX is very active, so the upper band (1.1201) can be finalized. Moreover, it can contain supple from the "round" psychological level)

Finalization of 1.1200 and drop

Н4: local resistance 1.1149 (upper Bollinger band). The price is heavily overbought thus anticipating the phase of downward movement. Support for the rising structure is the middle Bollinger band (1.1083)

Finalization of 1.1200 and drop

Н1: the upper Bollinger envelope is broken, which is a bullish signal. So, we expect finalization of 1.1200 and then a downward correction

Finalization of 1.1200 and drop

Expectations: growth to 1.1200 and then a downward correction towards 1.1105 and 1.1083

Solutions: 1. Buy to 1.1200

2. Sales from 1.1200 to 1.1105 and 1.1083.

Aleksey Panasenko
Analyst of «FreshForex» company
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