Bears, on mark! | 08 December 2016

Daily chart: yesterday bears managed neither to significantly increase price nor even to break inside bar, that resulted in rounding of Bollinger envelopes and reversal potential towards middle Bollinger band (111.29)

Н4: Bollinger bands in this frame are in the horizontal range 113.29-114.35, but, in general, the pair is still determined to reverse down, that is indicated by long-lasting oscillator divergence and growing ADX.

Н1: the price is locally consolidated within lower Bollinger envelope (113.51-113.96)

Expectations:

Core scenario - flat 113.51-113.96

Alternative scenario - drop to 112 number.

Solutions: sell inside the range of 113.96 to 113.51 and to 111.29 in mid-terms.