Swing scenario for the euro on Monday | 28 September 2015

28 September 2015, EUR/USD

The daily chart: after the strong first intersection down, bulls did not allow sellers to arrange the second one by running a counter pinbar. It is unlikely that this pin can be called a trade setup, but buyers have a chance to counterattack. All these chanced will be killed by a breakthrough under 1.1103 support (black arrow). Upward swing needs to aim above the last top (1.1458), and meanwhile we cannot think of it as of a feasible resolution.

Swing scenario for the euro on Monday

H1 chart: bearish IB from strong resistance zone 1.1205-1.1212 - it is possible to try to sell this formation down, of course, if markets do not give us surprise us with the opening at a gap. Wait much lower 1.1129 is impossible, because we see bullish blank in the form of rising of bottoms.

Swing scenario for the euro on Monday

scenarios : to fall to 1.1130, from where we will have equally probable scenarios of further fall or turn up. We'll discuss it in the next review.

solutions: Sales after opening to 1.1130 with stops above 1.1212.

Aleksey Panasenko
FreshForex Analyst
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