Monday's preview | 05 ديسمبر 2016

Daily chart: correction potential still holds in 1.0754 (middle Bollinger band), from here bears might try to touch lower band (1.0389).

If price gets to the upper envelope, a rise towards 1.1117 (upper Bollinger band) might be possible

Н4: the pair is locally consolidated in the horizontal corridor 1.0576-1.0691 (Bollinger bands range). ADX is weak and corrective.

Н1: more localized flat range is 1.0632-1.0691. This is where Monday trading range seems to be. ADX is growing but it is still far from active range.

Expectations:

Core scenario - flat within 1.0632-1.0691

Alternative scenario - breakout towards 1.0754

Solutions: buy in the range from 1.0632 to 1.0691