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Sell into the range of bearish O&U

Sell into the range of bearish O&U | 09 March 2016

09 March 2016, EUR/USD

Daily chart: price faced a strong resistance on middle Bollinger line (1.1065) now it is big possibility of decreasing to 1.0799 (bottom line).

Н4: locally pair is in the range 1.0919-1.1052.

Н1: we can observe local bear’s O&U from 1.1046 zone. Intraday support is on 1.0991.

Expectation: upper pullback to 1.1046 and then decrease to 1.0991 and to 1.0919

Trading decisions: sell from 1.1046 to 1.0991 and 1.0918

Aleksey Panasenko
FreshForex Analyst
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