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Fight of opposites again

Fight of opposites again | 09 February 2017

09 February 2017, EUR/USD

Daily chart: yesterday bears didn't manage to implement decline potential to 1.0580 and now flat is developing with possible upside rollback towards bearish Over&Under pattern activation region (1.0770)

Fight of opposites again

Н4: decline inside lower Bollinger envelope towards 1.0627 (lower band). We also see a very active trending ADX that can cause further falling towards 1.0580 (see blue arrow). However, there is an alternative: local bullish Over&Under pattern in 1.0655 region (see red arrow). In case of this scenario there rise towards 1.0784 (upper Bollinger band) is possible

Fight of opposites again

Н1: locally the price is consolidated inside flat region of 1.0651-1.0713 (Bollinger bands range corridor) and is likely to stay there the whole day.

Fight of opposites again

Expectations:

Core scenario - flat in 1.0651-1.0713

Alternative scenario - fall to 1.0580

Solutions:

1. Consider buying with little stops from the level of 1.0651 to 1.0713

2. Consider selling by breakout of 1.0651 towards 1.0580.

Aleksey Panasenko
FreshForex Analyst
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