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Key Resistance Level is 1.0661

30 November 2016, EUR/USD

Daily chart: the day closes within the frame of the previous one (internal bar), however, such setup is not trading. The pair is exactly in the middle of lower Bollinger envelope range, so both shift to the middle line (1.0801) and drop to the lower one (1.0400) are possible.

Key Resistance Level is 1.0661

Н4: Bollinger envelopes are stable, flat range is 1.0537-1.0661 (marked yellow area). In case of an upward breakout, shift to 1.0801 is possible (see red arrow).

Key Resistance Level is 1.0661

Н1: there is a similar situation but take notice of particularly active ADX, it gives buyers certain advantage. A rise to 1.08 is highly likely.

Key Resistance Level is 1.0661

Expectations:

Core scenario - rise towards 1.0801

Alternative scenario - touch in 1.0661 and after that downward rollback to 1.0612

Solutions:

1. Buy closer to 1.0801 (in case of breakout of 1.0661)

2. Sell from 1.0661 to 1.0612 (in case of alternative scenario)

Aleksey Panasenko
Analyst of «FreshForex» company
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