Forex Technical Analysis: Trend potential – Euro. Correctional potential of 100 points

EURUSD – Up

Daily chart: there are signs of starting correction, but do not forget that yesterday pinbar was inside Bollinger envelopes (that is without support), usually such signals are false. The correctional potential can be also high up to middle Bollinger band (1.0827).

Bears still have not worked with lower band (1.0442), which is now their next purpose.

Euro. Correctional potential of 100 points

Н4: regroupig on market is within the range of Bollinger envelopes (1.0518-1.0662). ADX is corrective, it means that bullish move is not a trend yet.

Euro. Correctional potential of 100 points

Н1: locally traders can expect a breakthrough of the upper envelope. In such case there will be a rise up to 1.0662, if an entry point will be on the middle line (1.0562)

Euro. Correctional potential of 100 points

Expectations:

Basic scenario – rollback to 1.0562 and then upward movement in direction of 1.0662

Alternative scenario – stable increase to 1.0662.

Trading solutios: buy in the range of 1.0562 and 1.0662

You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.

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