Key resistance of 1.0619 | 06 March 2017

06 March 2017, EUR/USD

Daily chart: the pair shot to middle Bollinger band (1.0619) making possible either further rise towards upper Bollinger band (1.0748) or reversal to the downside towards 1.0488 (lower Bollinger band).

 Key resistance of 1.0619

Н4: here situation is quite similar: bullish momentum along with active ADX ensure movement to the upside. However, resistance around 1.0619 is very strong so we cannot exclude downside reversal scenario (see red arrow).

 Key resistance of 1.0619

Н1: indicators are at their extremes now which matches set-ups on all other charts. If resistance level at 1.0619 will hold, we are likely to see reversal and decline towards 1.0550 (middle Bollinger band). Otherwise, bulls may get their chance to attack towards 1.0700.

 Key resistance of 1.0619

Expectations:

Core scenario - decline from 1.0619 to 1.0550

Alternative scenario - rise towards 1.0700.

Solutions: consider selling to 1.0550 from 1.0619.

Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
FreshForex Analyst
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