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Bearish trend potential

Bearish trend potential | 14 February 2017

14 February 2017, EUR/USD

Daily chart: very active trending ADX. That means, support level at 1.0588 (lower Bollinger band) will experience high pressure and is likely to be broken. In this case the pair will start declining towards 1.0350 in mid-term.

Bearish trend potential

Н4: at the moment price is consolidated inside lower Bollinger envelope (1.0585-1.0641). ADX is corrective, the pair may stay inside this corridor.

Bearish trend potential

Н1: here we have trending ADX again, so breakout of 1.0582 may be expected.

Bearish trend potential

Expectations:

Core scenario - drop below 1.0582 level and further decline to 1.05 or lower towards 04 region

Alternative scenario - flat at 1.0582-.06041

Solutions: consider selling from current levels to 1.05. Be cautious around 1.0582, the price may stay there for a while.

Aleksey Panasenko
FreshForex Analyst
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