Analysis of Friday closure | 09 November 2015
09 November 2015, EUR/USD
Day chart: ADX is active, so there is no hope to stop bears. The pair will show a 6-th figure. A small correction can appear because of oversold situation.
Н4: breakthrough of lower Bollinger envelope, then a bullish IB – a roll back may appear to middle Bollinger band (1.0878) before new decrease wave.
Н1: more local resistance level - 1.0816. Intraday support is 1.0685 (bottom Bollinger band).
Expectations: Main plan – roll back to 1.0816 and then new decline to 1.0685 The alternative plan – a direct decrease to 6th figure without any rollback. Trading solutions: 1) Wait for correction to 1.0816 and sell to 1.0685
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.
