What can we expect on Monday

14 November 2016, EUR/USD

Daily chart: the pair continues still aims to drop to ​​1.0817 (the lower Bollinger band), where, taking into account lack of activity of ADX, we can expect start of correction.

Н4: here, by contrast, bears not only have the momentum and trend on their side, but also aggression from ADX. Plus, as we can see, the lower Bollinger band is much lower - at 1.0767, where we should expect euro now.

Н1: phase of upward correction with respect against overall downtrend. Resistance is 1.0878 and 1.0926 (middle and upper Bollinger bands respectively). Sellers can start from these resistance lines today again.

The main scenario - decline to 1.0767 after touch of 1.0878

The alternative scenario - a significant correction to 1.0926 and then test of decline under the main scenario

Trading solutions: So, we are looking for sales to 1.0767 around 1.0878 and 1.0926.

Aleksey Panasenko
FreshForex Analyst
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