Wide trading range (200 points) | 26 August 2015
26 August 2015, EUR/USD
The daily chart: inside bar with a very active ADX raises concerns. Technically, here we have a correction to the middle Bollinger band (1.1117), but the indicator's pressure indicates that it may not be allowed so deeply. It is obvious that you'd better buy lower.
.png "Wide trading range (200 points)")
Н4: there arealso prerequisites to decline to 1.1117. But resistance 1.1675 (the Upper Bollinger band) continues to be a magnet.
.png "Wide trading range (200 points)")
Н1: a local intraday range 1.1410-1.16.
.png "Wide trading range (200 points)")
Expectations: So, there is strong resistance at 1.16 area and support in the area of 1.1410. So, we seek to enter at these levels.
solutions: 1) We sell from 1.1600 to 1.1410. 2) We buy from 1.1410 to 1.1600.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
