Expecting redraft of the structure on news | 23 September 2015

23 September 2015, EUR/USD

The daily chart: Bears completed the first crossing of swings down and got closer to the second support 1.1086. If it is broken, uptrend will be almost broken. But bulls still have a chance to cancel this intersection, for what they need to attack the last Top (1.1458) by upward swing. Now this seems like science fiction, but today we have a rich news background, which may deliver surprise.

Expecting redraft of the structure on news

H1 chart: downward structure dominates and it is problematic to break it. Break above the local High 1.1153 could e a sign of some activity of bulls.

Expecting redraft of the structure on news

Scenario:

1) On move under 1.1104 - the price will decline to the 10th figure

2) With growth above 1.1153 - turn to the top and grow to the 12th figure.

solutions: I recommend to skip the news impulses and act in the direction of a resulting structure.

Aleksey Panasenko
FreshForex Analyst
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