Euro. Local preparations for the mid-term drop | 24 May 2016
24 May 2016, EUR/USD
Daily Chart: In the medium run, ADX will enhance its trend activity of with a potential target 1.10817 (strong support zone and promising area of demand for the euro). Local support is at 1.1151 (lower Bollinger band)
Н4: extremely narrow envelopes also anticipates the volatility momentum. But ADX is weak, so the scenario can be delayed until tomorrow.
Н1: another flat frame with the daily range inside Bollinger envelopes (1.1191-1.1226)
Expectations: The main scenario - flat 1.1191-1.1226
The alternative scenario - break down to 1.11
Trading solutions: we do not consider buying, look for sales around 1.1226 area.
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.
