Find downward entry points | 09 December 2016

09 December 2016, EUR/USD

Daily chart: it seems that there is shaping an extending triangle, however, in general, downtrend remains. So wait for a descent towards lower Bollinger band (1.0489)

Find downward entry points

Н4: there is upward correction after breakout of lower Bollinger envelope. Resistance level is 1.0714 (middle Bollinger band). Here is where new signals of downward movement will be shaped.

Find downward entry points

Н1: there is whole bunch of local resistance levels on the way of rollback - 1.0641, 1.0672, 1.0714, 10752. It is useless to buy in such case, so wait for a chance to sell on one of the resistance levels. Support level is localized on 1.0521 (lower Bollinger band)

Find downward entry points

Expectations: in general, wait for descent to 1.0521, but at first, upward shifts to 1.0672, 1.0714, 10752 are possible, these are potential entry points for selling.

Solutions: find downward entry points around 1.0672, 1.0714, 1.0752. The goal is 1.0521

Aleksey Panasenko
FreshForex Analyst
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