FreshForex - Analytics

    FreshForex

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    Resistance 103.45 will throw the pair down

    Daily chart: a continued technical correction towards 105.06 (middle Bollinger band), from where a new wave down to 110.59 (the lower Bollinger band) is likely to take place.

    Н4: a local area of resistance 103.45 (upper Bollinger band). ADX is rising, but has not reached the trendline area yet, so we a downward rebound (blue arrow) and growth to 105.06 (purple arrow) are equally probable.

    Н1: the price cannot get above 103.45 (upper Bollinger band) due to very weak ADX parameters. Support is at 102.85 (middle band)

    Expectations: rise to 103.45 and then fall to 102.85

    Solutions: sell from 103.45 to 102.85


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