Fight is on

June 11, 2015

EUR/USD

Daily chart: bulls continue to terror bears, who are ready for it but also reserved a chance to make a revenge. Until resistance O&U (1.1466) is broken, euro can fall down to the bottom Bollinger band (1.0818). If 1.1466 is broken, we will face a notable trend's middle-term growth in the direction of 1.18.

Í4: a better shaped diagnostic resistance is 1.1401. Upon attack on this level, bearish pin will be nullified and that will anticipate a reversal. Weak ADX allows buyers to get protected, so now we are coming from trading under 1.14.

Í1: gripping within 1.1284-1.1329.

Expectations:: trading within 1.1284-1.1329. Break above will open a way to 1.1401.

Trading decisions:

1) Open sales are kept as long as the price has reached 1.1466. But even growth to 1.1401 will open potential for weakening of bearish signals. So we shall just wait. Strong up signals (on a break above 1.1401) can help us to overlap positions.

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