Potential for growth is limited | 09 December 2015
09 December 2015, EUR/USD
Daily chart: the attempt of bulls to break higher is against weak corrective ADX. Therefore, in the zone of 1.0944 (Upper Bollinger band) we expect strong resistance and a downward roll back towards the middle band (1.0776)
Н4: strong clamping of spring within the range 1.0805-1.0944
Н1: downward correction towards the lower Bollinger band (1.0838)
Expectations: The main scenario - decline to 1.0838 and then move to 1.0907 and possibly to 1.0944. The alternative scenario - rise to 1.0944, and only then correction in the direction of 1.08438.
Trading solutions: Buy from 1.0838 and sales from 1.0944
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.
