Correction | 06 12月 2016

06 12月 2016, EUR/USD

Daily chart: the pair has shown a strong corrective momentum but ADX is still passive, so no upward shift can be considered as trend.

Correction

Н4: locally there is a breakout of upper Bollinger envelope. Now a drop to middle band (1.0662) seems only logical. From there bulls will again be able to force price to upper band (1.0787). It is quite an ordinary range for both euro and traders.

Correction

Н1: in the most localized frame we see that the price is secured inside Bollinger bands (1.0676-1.0787), which corresponds to Н4 review.

Correction

Expectations: wait for a downward shift to 1.0662-1.0676, from where price will rise back towards 1.0787.

Solutions: buy in the range of 1.0662 and 1.0787.

Aleksey Panasenko
FreshForex公司的分析员
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