31 July, 2015
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.
Í4: a similar situation. Two paths: a decline to the middle 1.0825 Bollinger band (1.1011), either rising to the northern O&U (1.1110)
Í1: scenario of the upward movement to 1.1110 through breaking the top envelope. Let's watch.
Main: Move up towards 1.1110 via zig-zag 1.1011-1.0935-1.1110.
Alternative: Decline from 1.1011 down to 1.0825.
1) If the top envelope is breaken, we shall buy from 1.0935 to 1.1110.
2)Pending Sell orders are set at 1.1110 and Buy at 1.0825.
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...
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)...
Daily chart : the middle Bollinger band (123.14) is being tested and, apparently, decline to the bottom band (121.36) will continue...
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)...
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...
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)...
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...
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...
The borrom Bollinger band is aimed to get a new Low, but supports are protected and there is a demand in Euro. Active ADX is not going through a correction though. Movement to the middle band (1.1153) will confirm that bulls control the situation...