Key resistance level of 1.0849 | 01 February 2016
01 February 2016, EUR/USD
Day chart: There is still a sideways trend of 1.0775-1.0963 levels.
H4: strong support level in lower Bollinger band (1.0816) can move this pair down to 1.0948 level. (upper band, see black arrow). As an alternative – sideways trend (red arrow).
H1: now euro is at 1.0849 resistance level (middle Bollinger band). If this level is broken, then there will be a movement towards 1.0905 (upper band, black arrow). Equiprobably the price can roll back down towards 1.0816.
Expectations: The main scenario - growth to 1.0905 Alternative scenario – decline to 1.0816 Trading solutions: 1) Buy to 1.0905 2) Sell to 1.0816, but it’s risky.
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.
