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Premarket view on euro. Analysis of Friday's close

Premarket view on euro. Analysis of Friday's close | 11 April 2016

11 April 2016, EUR/USD

Daily chart: Friday was closed by the bullish inside bar that, against the background of active ADX. It can lead to a new momentum in the area of ​​1.1467 (Upper Bollinger Band)

Н4: a horizontal flat channel 1.1347-1.1416 (the range of Bollinger envelopes). We can search for the best possible entries point up around the bottom wall of the channel.

Н1: a more localized range for trading - 1.1381-1.1416 (upper envelope Bollinger). If bulls do not become more active around 1.1381, bears will adjust euro to the bottom band (1.1347)

Expectations: The main scenario - touch of 1.1381 and then surge towards 1.1416 and possibly to 1.1467

The alternative scenario - decline to 1.1347 (on a breakthrough at the level of 1.1381)

Trading solutions: looking for signals to enter to 1.1381 or 1.1347 (based on one of the described scenarios)

Aleksey Panasenko
FreshForex Analyst
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