Correctional swing down continues to be formed | 16 October 2015

16 October 2015, EUR/USD

The daily chart: the downward swing continues to be formed and dynamics of its development is sufficient to obtain a new Low and, therefore, the price should complete with the downward swing, then bulls will again be able to attack. The nearest support is 1.13 (pivot from one of the Tops and round level)

H1 chart: bearish pattern O&U (1.1488) is high enough. It is the question whether the price will go for orders to this area, but we have be based on such a scenario.

Scenario: So, there are two options. 1 - a rollback in the 1.1488 area and then fall to 1.13. 1 - a direct drop to 1.13

solutions: Sales from zone 1.1488 to 1.1300.

Aleksey Panasenko
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .