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Waiting for the rebound from 1.1160 down

Waiting for the rebound from 1.1160 down | 05 July 2016

05 July 2016, EUR/USD

Daily chart: the pair is likely to continue fluctuations within the lower Bollinger envelope (1.1018-1.1227), and, most likely, in a narrow range (near the hourly middle bands 1.1120-1.1130) - ADX is absolutely passive

Waiting for the rebound from 1.1160 down

Н4: the flat corridor of accumulation 1.1084-1.1160. Consolidation is visually similar to the north, but ADX is weak and is therefore the main expectation is a downward bounce from the top wall (1.1160)

Waiting for the rebound from 1.1160 down

Н1: local ADX is aggressive, but resistance 1.1160 seems to be strong enough to be broken. Support is at 1.1120 (the lower Bollinger band)

Waiting for the rebound from 1.1160 down

Expectations: rise to 1.1160 and then fall to 1.1120 Solutions: sales from 1.1160 to 1.1120

Aleksey Panasenko
FreshForex Analyst
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