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Strong Resistance Level in 1.0702 Area

Strong Resistance Level in 1.0702 Area | 05 April 2017

05 April 2017, EUR/USD

Daily chart: ADX shows growing trend, which is good for bulls - they want the pair to keep edging higher. However, bulls are not likely to break middle Bollinger band yet (1.0680)

Strong Resistance Level in 1.0702 Area

Н4: the pair is aiming to reach upper Bollinger band (1.0702), which is likely to send the pair back down towards 1.0637 (lower Bollinger band)

Strong Resistance Level in 1.0702 Area

Н1: here resistance level around 1.0676 (upper Bollinger band) is likely to get broken and the pair may test level of 1.0702.

Strong Resistance Level in 1.0702 Area

Expectations: rise to 1.0702 followed by downside rollback to 1.0645.

Trading signals: consider selling from 1.0702 to 1,0645

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Aleksey Panasenko
FreshForex Analyst
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