Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
Try to enter down from resistance level 1.0720

Try to enter down from resistance level 1.0720 | 23 January 2017

23 January 2017, EUR/USD

Daily chart: we are observing momentum of the high but there is not enough force to break upper Bollinger envelope (resistance level of 1.0720). This allows us to count on rollback to the downside from 1.0720 region towards middle Bollinger band (1.0540), here one may look for signals to buy again.

Try to enter down from resistance level 1.0720

Н4: here we also see weak ADX, so scenario of downward rollback from 1.0720 might be considered as a core one. Supports are localized at 1.0671 and 1.0615 (middle and lower Bollinger band)

Try to enter down from resistance level 1.0720

Н1: there is local trending ADX, so bulls may take their advantage, firstly by continuing rally with increasing new highs and then by plunging the pair into correction towards 1.0671.

Try to enter down from resistance level 1.0720

Expectations:

Core scenario - upside breakout of 1.0720 and then rapid rollback to the downside towards 1.0671

Alternative scenario - decline after touching 1.0720. The target is 1.0629

Solutions: selling from 1.0720 to 1.0671 and 1.0629

analytic
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Login

Tunjukkan kata laluan

Hide password

 Terlupa kata laluan anda?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.