Strategic barrier at 1.0679 | 16 января 2017

16 января 2017, EUR/USD

Daily chart: Friday closed with bullish inside bar, that can be a signal of up move. To ensure up move buyers need to break higher than 1.0684 (see blue arrow). However, considering very weak ADX decline is possible towards middle Bollinger band (1.0488, see red arrow)

Strategic barrier at 1.0679

Н4: there is a local resistance level around upper Bollinger band (1.0679). ADX here is also weak, rollback to the downside towards 1.0596 (middle Bollinger band) is possible

Strategic barrier at 1.0679

Н1: here bulls are fully armed (which does not match day time-frame). If barrier at 1.0679 is broken, there would be no obstacles for an up move. Now we are waiting for reaction to 1.0679.

Strategic barrier at 1.0679

Expectations:

Core scenario - touching in 1.0679 and later rollback towards 1.0596

Alternative scenario - breaking of 1.0679 and further rise towards 1.0900

Solutions:

1. Consider buying around 1.0596

2. Consider selling around 1.0679

Алексей Панасенко
Аналитик компании «FreshForex»
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