Trading towards both sides | 10 July 2015

Daily chart: all chances to move to O&U (1.1386). Strong resistance 1.1179 (the middle Bollinger band ) is waiting for the pair because ADX/RSI counters the movement. Bounce from this area down and a new decline down to 1.0945 is an equally possible event.

Н4: attack of the upper envelope with active ADX is the argument from bulls. We also prove resistance at 1.1179. However, if it is tested on already broken upper envelope, we can buy on pullbacks to the middle band (1.1058)

Н1: also a local Northern attack.

Expectations: so, we are waiting for the movement to 1.1179, then a pullbacks to 1.1058, from where in the middle term we can buy to 1.1386.

Trading decisions:

1) Selling from 1.1179 to 1.1060

2) Purchase from 1.1058 to 1.1179 and 1.1386