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Decline to 1.1217 and search for new entry points up

Decline to 1.1217 and search for new entry points up | 21 March 2016

21 March 2016, EUR/USD

Daily chart: inside bearish bar in favor of sellers, and ADX is close to trend ​​(that can be attributed to both buyers and sellers). The situation is not unequivocal, therefore, we need a careful risk control. But if game of bears turns to be justified, the middle Bollinger band (1.1058) can be considered as the goal

Н4: here we can see that growth potential is not exhausted. Support is at 1.1217 (middle Bollinger band), resistance - 1.14 (upper band)

Н1: local flat with a downward character (which fits H4 scenario - focus of correction at 1.1217). Intraday support is at 1.1250, resistance - 1.1289 (the middle Bollinger band).

Expectations: touch of 1.1289 and then decline towards 1.1250 and maybe toward 1.1217, from where we will be looking for buy signals again

Trading solutions: 1 Sell from 1.1289 to 1.1217

2.Look for upward signals to 1.1217 area

Aleksey Panasenko
FreshForex Analyst
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