29 October 2015, EUR/USD
The daily chart: a strong trending distribution down with active ADX. Broken bottom Bollinger envelope indicate a possible continuation of drop of the euro. There are two most probable paths. The first – drop from current levels to 1.0814 and then upward correction. The second – a preliminary pullback to the zone of the middle Bollinger band (1.1216) and only then the main phase of decline.
Н4: bottom envelope is also broken here. You can sell the euro immediately after touch of zone of the middle Bollinger band (1.1037)
Н1: similar picture. Structure may be one of the versions of the “bear flag”, so we will have two fall scenarios again – either from current levels or through a rollback to 1.1037
Expectations: The main scenario – roll back up to 1.1037 and then start of decline towards 1.0814. The alternative scenario – a direct drop to 1.0814.
solutions Only sales. The best option is selling from the area of 1.1037, but the price may fall from current levels, so make a decision on entry points based on your own trading style.
Check the website for more information: https://freshforex.com/analitics/fresh-forecast/potencial/issue_69995.html