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Looking for upward entry points

Looking for upward entry points | 28 December 2016

28 December 2016, EUR/USD

Daily chart: it seems that the pair decided to choose technical correction towards middle Bollinger band (1.0546), from there bears might try again to touch lower band (1.0314)

Looking for upward entry points

Н4: ADX is bullish, so 1.0546 is a possible next target. Consider that "next target" might be reached during or after New Year holidays.

Looking for upward entry points

Н1: here we also see active and trend state of ADX, however, because of upper Bollinger band breakout, locally a rollback towards middle band (1.0458) is possible

Looking for upward entry points

Expectations:

Core scenario - a rollback to 1.0458 and later shift towards 1.0546

Alternative scenario - a direct rise towards 1.0546

Solutions: look for upward entry points (the best entry point is around 1.0458)

Aleksey Panasenko
FreshForex Analyst
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