Analysis method - “Trend Potential”
October 11, 2018
The major is driven to the lower Bollinger bands, that opens room for further decline in direction of the support 111.19 (lower Bollinger band).
Strong local support at the area of lower Bollinger band (112.04) may provoke pullback towards the area of lower band (112.94), where we can consider short-trades again.
We note two local resistance levels - 112.31 and 112.77 (middle and upper Bollinger bands). From each of them a downward wave can be continued.
So, we expect touch of the levels 112.31 and, perhaps, 112.77 and afterwards the pair’s slide will be continued.
Search for sell signals at the areas 112.31 and 112.77.