10 2月 2017, EUR/USD
Daily chart: bears destroyed yesterday pinbar with no help from ADX. In general, it confirms drop expectations towards 1.0580 (lower Bollinger band), however flat drop is also possible.
Н4: here we are observing the price trapped inside lower Bollinger envelope range (1.0638-1.0701)
Н1: locally potential bullish Over&Under pattern was triggered, so today key support is lower Bollinger band (1.0648). Downside breakout of 1.0638 will ensure another scenario (readiness to drop to 1.0580 region)
Expectations:
Core scenario - rise from 1.0648 region to 1.0701
Alternative scenario - drop to 1.0580 (in case of downside breakout of 1.0548)
Solutions: consider buying from 1.0648 to 1.0701 (with stops in 1.0538 region)