Bearish Potential | 07 Abril 2017
07 Abril 2017, EUR/USD
Daily chart: bears have gathered powers and are likely to try to break support level at 1.0563 (lower Bollinger band). ADX shows growing active trend. However, this shift may be implemented on Monday.
Н4: intermediate support level is around 1.0611. As we may see here, ADX is not supportive of any drastic changes.
Н1: another support level at 1.0634 on lower Bollinger band. This support level will be under pressure, as ADX parameters match the ones on the daily chart.
Expectations:
Core scenario - drop to 1.0611
Alternative scenario - more drastic drop to 1.0563
Trading signals: consider selling to 1.0611 and 1.0563
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.
