Support Trump - level 1.1085
09 November 2016, EUR/USD
Daily chart: So far, important resistance lines have not been broken (even puncture of the first one is pointed, see the red area). Therefore, the intrigue of the day is the question if bulls will break the upper envelope on the basis of the daily closing of the inside bar? The answer depends on whether we have the signal for middle-term purchases. In the meantime, downward rollback is anticipated.
Н4: here everything may result by the bearish inside bar, now it is too early to say. In general, we are about to get correction to the middle Bollinger band (1.1085), which will decide the fate of northern potemtial, whereas markets will show us their reaction to voting in the USA.
Н1: key support for the day is 1.1085 (middle Bollinger band). We are waiting when the price will touch it as well as formation of a possible signal to buy.
Expectations: a downward pullback to 1.1085, where the situation will be vague. If we gat upward signals on H1, it will anticipate the movement to north. If support is broken, then we'll wait the pair at 1.1004
Trading solutions: Catchers of corrections can try selling to 1.1085. But conservatives need to wait for the response to the level 1.1085.
Aleksey PanasenkoAnalyst of «FreshForex» company
Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us