Slipping to 1.0593 Area | 14 Maret 2017
14 Maret 2017, EUR/USD
Daily chart: there is technical correction to the downside towards support levels at 1.0953 and 1.0506 (middle and lower Bollinger band). ADX is passive, so this decline would not be treated as downtrend.
Н4: here support levels are at 1.0623 (middle Bollinger band) and 1.0519 (lower Bollinger band). If bears break the first support level, they would easily break the other, so bulls are likely to try to protect 1.0623 area.
Н1: we are observing falling ADX which indicates slipping towards 1.0623 and 1.0593.
Expectations: we expect decline towards 1.0623 and 1.0593. Resistance level is at 1.0658.
Solutions: consider short-term selling to 1.0593.
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.
