Ready for bullish distribution | 02 Agustus 2016
02 Agustus 2016, EUR/USD
Daily chart: ADX in a very active phase, so we can expect beginning of a bullish momentum towards 1.1335.
Н4: local resistance is at 1.1217 (upper Bollinger band), from where a correction may start towards the middle band (1.1129).
Н1: at this local level, we also have a bullish accumulation and readiness for distribution.
The main scenario - growth to 1.1339
The alternative scenario - surge to 1.1217, then correction to 1.1129
Trading solutions: We consider buying to 1.1339 (and monitor how the price reacts to the resistance zone 1.1217 to possibly settle in profit there)
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.
