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Continuing expectations of up movement

Continuing expectations of up movement | 27 December 2016

27 December 2016, EUR/USD

Daily chart: keep expecting further upward correction towards middle Bollinger band (1.0566). Such a scenario is more possible than direct decline to 1.0331 (lower Bollinger band), because bulls haven't implemented their inside bar potential yet.

Continuing expectations of up movement

Н4: ADX has an aggressive and trend state, envelopes are narrowing, so it is possible that there would be a rapid shift towards 1.0566

Continuing expectations of up movement

Н1: horizontal corridor inside Bollinger envelopes range (1.0442-1.0464) indicates flat, however, if the pair goes higher than 1.0470, upward correction will be activated.

Continuing expectations of up movement

Expectations:

Core scenario - price shift to 5 number (with 1.0566 as a target). Consider this scenario in case of resistance level 1.0470 breakout

Alternative scenario - flat in 1.0442-1.0470

Solutions: buy around 1.0442 keeping in mind possible shift to 1.0566 (extraday is possible)

Aleksey Panasenko
FreshForex Analyst
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