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Bulls Trial in 1.0871 Region

Bulls Trial in 1.0871 Region | 27 March 2017

27 March 2017, EUR/USD

Daily chart: bulls are still trying to break resistance area at 1.0840-1.0871, which is simulatneously a very strong pivot area and upper Bollinger band.

Bulls Trial in 1.0871 Region

Н4: here we are observing readiness to reverse to the downside within Bollinger envelopes range (1.0765-1.0816). If we will face breakout of this region, there will appear potential for big chart changes.

Bulls Trial in 1.0871 Region

Н1: there are two strong valid support levels at 1.0788 and 1.0765. Considering expectations of rise towards 1.0840-1.0871 on daily chart, we may enter long up to the moment when specified support levels are broken.

Bulls Trial in 1.0871 Region

Expectations:

Core scenario - upside shot to 1.0840-1.0871 region following rebound from one of the support levels 1.0788 or 1.0765.

Alternative scenario - downside breakout of 1.0765 and then drop towards 1.0700.

Trading signals: consider entering long from 1.0788 and 1.0765 regions to 1.0840 and 1.0871.

Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
FreshForex Analyst
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