Look for upward entry points | 13 December 2016

13 December 2016, EUR/USD

Daily chart: expectations of upward shift within Over&Under pattern proved to be right. The pair reached middle Bollinger band (1.0638), which is traditionally a resistance level. However, ADX is very aggressive, that can cause further rise to 1.0764 (upper Bollinger band)

Look for upward entry points

Н4: there is a bearish inside bar around middle Bollinger band. It could be a nice signal of downward move, if it wasn't for strong ADX

Look for upward entry points

Н1: support level is 1.0604 (middle Bollinger band), but there can also be euro demand in 1.0541, which is entry range within local bullish O&U pattern.

Look for upward entry points

Expectations: well, there is a general upward potential, however downward correction towards support levels 1.0604 and, perhaps, 1.0541 is also possible.

Solutions: look for upward entry points around 1.0604 and 1.0541. The goals are 1.0661 and 1.0764.

Aleksey Panasenko
FreshForex Analyst
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