Looking for the place for an upward reversal | 22 نوفمبر 2016
22 نوفمبر 2016, EUR/USD
Daily chart: the lower Bollinger band sank to 1.0536, which is the relevant target for sellers (and start of a possible upward correction). ADX is attacking in favor of bears
Н4: a better shaped support is at 1.0550 (lower Bollinger band). Reistance is the upper line of Bollinger (1.0714)
Н1: a local bullish reversal Over&Under pattern with the entrance area 1.0580, which is quite an attractive stop, but the price may take a deeper decline which we noted on bigger charts.
The main scenario - decline to 1.0580 and then upward start to 1.058 and 1.0714
The alternative scenario - a deeper decline to 1.0536-1.0550
Trading solutions:
1. Looking for Buying options around 1.0580 and 1.0536-1.0550.
2. Purchases from 1.2378 to 1.2470.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
