Decline towards 1.0613 | 27 Enero 2017
27 Enero 2017, EUR/USD
Daily chart: we are observing downside correction towards support level at 1.0613 (middle Bollinger band). From there a new rise towards 1.0801 (upper Bollinger band)may be started.
Н4: here we have active trending ADX, so breakout of 1.0613 is likely to occur.
Н1: localized support level on lower Bollinger band region (1.0651) can be under pressure considering aggressive and trending ADX on this chart. That's why despite of the red arrow scenario (rollback towards 1.0684 and 1.0724), we will proceed from the core scenario of decline towards 1.0613 (blue arrow)
Expectations:
Core scenario - decline towards 1.0613
Alternative scenario - rollback from 1.0651 to 1.0684 and 1.0724
Solutions: consider selling towards 1.0613
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.
