Breakthrough to 1.1021 is possible

28 May, 2015

EUR/USD

Daily chart: We continue to wintess how our scenario is implemented. Under this scenario, the bottom Bollinger band has demonstrated itself as a reliable line. That gave Euro potential to grow to 1.1390, from where a strong wave down will be supposed to come based on O&U pattern.

Í4: strong resistance on 1.1021, but ADX is also strong. Therefore, a fight may be followed by a breakthrough above to 1.1186. Area of local purchases is represented by 1.0926 (the middle Bollinger band)

Í1: Here we have a weak ADX, so a resistance in the area of the upper Bollinger band (1.0936) is possible.

Expectations: So, this day a flat within 1.0850-1.0926 may take place, either it may be under the sign of bulls which have an opportunity to grow to 1.1021 and 1.1186. So we don't consider sales.

Trading decisions:

1) We buy in the direction of 1.1021 and 1.1186.


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Selling from the area 1.5553-1.5562

Daily chart: the pair is striving to reach the upper Bollinger band (1.5715), but ADX show weaknesses, so we wait a strong resistance in this area...

Passing moves with local advantage of bulls

Daily chart: the pair is moving within the Bollinger envelopes, being "surrounded" by two colliding O&U s - from north it is from 1.1110, from south it is coming from 1.0825...

British Pound generally targets 1.54

Daily chart: a bearish pin from the upper Bollinger band has been produced , which almost certainly will bring the pair to the bottom Bollinger band in the next few days (1.5403)...


In the event of a rollback to 123.70 we should sell

Daily chart : the middle Bollinger band (123.14) is being tested and, apparently, decline to the bottom band (121.36) will continue...

Selling from 123.70

The daily chart: the pair turns to be in flat within the envelope Bollinger, however, here is a loss of support from the middle band (123.21), we see a dive to the bottom envelope in the direction of the bottom line (121.36)...

Flat 1.0963 -1.1006

Daily chart: the middle Bollinger band (1.1026) has been reached and, in contrast to descending envelopes and passive ADX, we can expect decline to the bottom band (1.0784) prior to a new upward dash...


Looking for growth to 1.0959-1.0978 and decline to 1.0881

Daily chart: bulls are moving to the middle Bollinger band (1.1026), from where a pullback is probable to happen to the area of demand in Euro configured by the pattern O&U (1.0825)...

Waiting for a pullback from the area 1.0978 and then we shall buy again

Yesterday the pair has confirmed its correctional potential. The nearest strong resistance - the middle Bollinger band (1.1047), from where Euro can go to 1.0825, accumulating a probable demand within the frames of O&U pattern. From this area, it can move even upper to 1.1280 and 1.1380...

Gold is losing its weight

This week we have at least three reasons to expect a descending tendency to go on. 1. US currency is demonstrating a confident growth of quotations...

  


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