Watchful waiting | 18 August 2015

18 August 2015, EUR/USD

The daily chart: a swing down has been already formed, however, the swing is too small to break down inside bar. Therefore, we will wait for its extension.

Watchful waiting

H1 chart: we have a local bearish Over & Under from the zone 1.1165, so correction to this area is possible.

Watchful waiting

Scenario:

1) Growth from current levels to 1.1165.

2) Continued decline from current levels.

solutions:

1) Watchful waiting: Limit sales from 1.1165 and Limit Buys from 1.0825.

Aleksey Panasenko
FreshForex Analyst
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