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Bearish Potential

Bearish Potential | 07 April 2017

07 April 2017, EUR/USD

Daily chart: bears have gathered powers and are likely to try to break support level at 1.0563 (lower Bollinger band). ADX shows growing active trend. However, this shift may be implemented on Monday.

Bearish Potential

Н4: intermediate support level is around 1.0611. As we may see here, ADX is not supportive of any drastic changes.

Bearish Potential

Н1: another support level at 1.0634 on lower Bollinger band. This support level will be under pressure, as ADX parameters match the ones on the daily chart.

Bearish Potential

Expectations:

Core scenario - drop to 1.0611

Alternative scenario - more drastic drop to 1.0563

Trading signals: consider selling to 1.0611 and 1.0563

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Aleksey Panasenko
FreshForex Analyst
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