Monthly chart: as we see, bulls do not quit, though we cannot tell that growth is energetic. Everything leads to reversal of the index following to touch of the area 2050.7
Weekly chart: a Northern determination is preserved, whereas we also witness that market is overbought and divergence – the chart is preparing for reversal. Upon that, it is too early to sell now.
Conclusion: more probably that upward movement from support 1948 and downward bounces from resistance 2000 will go on.
Monthly chart: the price still barrages inside Bollinger envelopes (100.71-115.20) .
Weekly chart: the situation is similar here: horizontal channel is protected and ADX does not show breaking signals.
Day chart: resistance is based in the middle Bollinger band (110.58).
Conclusion: trade will take place in flat channel 100.71-110.58
Monthly chart: the pair gravitates towards support 1305.81, but we do not see trend activity with the help of ADX yet. Therefore, a main expectation is that price will still be based in the area of Bollinger envelopes, with resistance marked at 1638.60
Weekly chart: here is a slight gripe of the string with the imply of upward movement. Control support for this scenario is the middle Bollinger band (1453.78). Bulls must push off it if what to reach 1638.60 (scenario is painted by red arrow).
If it does not take place, then a flat trading scenario will be confirmed with support based at 1402.10 ( the bottom Bollinger band) and resistance at 1511.60 (the top band). Scenario is painted by blue arrow
Day chart: there is a gripe in triangle range 1455.52-1611.60, which also can serve as the preparation before breakthrough. Nevertheless, it is more probable that range of triangle will take time to fill.
Conclusion: an intensive flat within range1455.52-1511.60
We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us