Entering Long after Possible Downward Rollbacks | 22 Marzo 2017

22 Marzo 2017, EUR/USD

Daily chart: ADX is growing slowly, for now trend supports bulls. Upward breakout of 1.0804 will allow rising towards 1.0871, it is a strong pivot area. However, considering weak trend ADX we may expect rollbacks to the downside.

Entering Long after Possible Downward Rollbacks

Н4: oscillator divergence indicates bullish weakening. However, ADX shows aggressive trend. Bulls may actually reach new high today and then give way to correction. Support levels are at 1.0769 and 1.0718 (middle and lower Bollinger band).

Entering Long after Possible Downward Rollbacks

Н1: price rotation area is 1.0791-1.0820. If the pair breaks support level at 1.0791, that will be a signal for starting rollback to the downside.

Entering Long after Possible Downward Rollbacks

Expectations: the situation is unstable. On the one hand, bulls may renew today's high. On the other hand, bears have a chance to ensure correction towards 1.0769 and 1.0718.

Solutions: so, consider skipping downside rollbacks and looking for upside entry points.

Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
Analista de la empresa" FreshForex
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.