FreshForex - Analytics


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    A downward reversal

    Daily chart: equally probable scenarios. From important resistance 108.77 (middle Bollinger band) the price may grow to the upper band (111.97. see the blue arrow), and a new decline to 105.51 (the bottom band, see the red arrow).

    Н4: on the local levels bulls remain their potential, so we need to be attentive to Long-signals at the middle Bollinger band (107.54), which is now represents the support and the possible area of ​​demand in the dollar.

    Н1: clear signs of a coming downward reversal: bearish divergence and the inside bar at the upper Bollinger band. We expect an immediate move to 108.46 followed by a move to 107.99. From there the price will probably roll back to 108.46, where the mid-term point of sales will be.

    Expectations: we expect a fall to 108.00, then a pullback to 108.46, whereupon the pair will turn down to 107.54

    Trading solutions: sell first to 108.00, then re-sell from 108.46 to 107.54

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