Euro. Correctional potential of 100 points
25 November 2016, EUR/USD
Daily chart: there are signs of starting correction, but do not forget that yesterday pinbar was inside Bollinger envelopes (that is without support), usually such signals are false. The correctional potential can be also high up to middle Bollinger band (1.0827).
Bears still have not worked with lower band (1.0442), which is now their next purpose.
Н4: regroupig on market is within the range of Bollinger envelopes (1.0518-1.0662). ADX is corrective, it means that bullish move is not a trend yet.
Н1: locally traders can expect a breakthrough of the upper envelope. In such case there will be a rise up to 1.0662, if an entry point will be on the middle line (1.0562)
Basic scenario - rollback to 1.0562 and then upward movement in direction of 1.0662
Alternative scenario - stable increase to 1.0662.
Trading solutios: buy in the range of 1.0562 and 1.0662
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