We wait for growth towards 1.5640 and shall sell from there

July 28, 2015


Daily chart the pair tends to rise in the area of the upper Bollinger band (1.5735). However, it has a dynamic (descending) character, plus H1 gives a purely Southern pattern, so the bulls are expected at a lower part

Í4: strong resistance from 1.5640 (the upper Bollinger Band)

Í1: Weak ADX makes us believe in strength of resistance around 1.5593-1.5600 area. However, after that we will wait when the price works on 1.5640

Expectations: 1) Growth to 1.56 and then a roll back to 1.5555 and rising to 5640 . 2) Direct growth to 1.5640 (in case of a break above 1.56)

Trading solutions:

1) Keep Buy trades to 1.5640

2) We shall put Sell Limit orders to sell from 1.5640.

Publication source
FreshForex information  FreshForex reviews

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