Growth to 1.1226 is possible

May 21, 2015

May 21 of 2015, EUR/USD

Daily chart: Expecting the price near 1.1390 for middle-terms sales to 1.0785 within the pattern O&U seems to remains to be the main strategy.

Í4: The bottom Bollinger band (1.0970) gives some outlook and bulls are making efforts to set pinbar there. We recommend to wait and look for the options for intraday deals, cause ranges are quite wide now.

Í1: We find an active ADX but Bollinger envelopes remain stable within the range 1.1079-1.1154. Therefore, we will be looking for a breakthough of one of envelopes and then will enter to the side of a breakthrough. We are basing ourselves on potential of O&U, so purchases are more preferable. Strong resistance is based on 1.1226.

Expectations: We're waiting for a breakthrough of 1.1154 and growth to 1.1226 within the plan to grow to 1.1390

Trading decisions:

1) We buy from zone 1.1108 to 1.1226

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