A continued drop | 06 Juli 2016
06 Juli 2016, EUR/USD
Daily chart: ADX is not strong enough yet, but the momentum is obviosly bearish, so we expect finalization of the lower Bollinger band (1.0995)
Н4: very weak ADX, which could lead to correction to the middle Bollinger band (1.1113), from wherea new wave to South is expected to come.
Н1: strong local ADX and goal - 1.1051 (the lower Bollinger band) .
Expectations: The main scenario - decline to 1.1051 and then an upward bounce
The alternative scenario - decline to 1.0985
Solutions: sale to 1.1051 and to 1.0995
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.
