FreshForex - Analytics


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    Bearish pressure remains

    Daily chart: ADX is not in the trend zone, but is growing rapidly. This allows bears rely on finalization of the lower Bollinger band (1.2742). We'll see at the younger charts, how high can a pre-correction be.

    Н4: the pair is heavily oversold here, but ADX is very active as well, so we expect continuation of downward.

    Н1: local ADX is weak and a flat omni-directional corridor within Bollinger envelopes (1.2871-1.2986)

    The main scenario - consolidation around 1.2871-1.2986

    The alternative script scenario - decline to 1.2742

    Solutions: looking for Sell options to 1.2871 and possibly to 1.2742

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