Correction | 06 ديسمبر 2016

Daily chart: the pair has shown a strong corrective momentum but ADX is still passive, so no upward shift can be considered as trend.

Н4: locally there is a breakout of upper Bollinger envelope. Now a drop to middle band (1.0662) seems only logical. From there bulls will again be able to force price to upper band (1.0787). It is quite an ordinary range for both euro and traders.

Н1: in the most localized frame we see that the price is secured inside Bollinger bands (1.0676-1.0787), which corresponds to Н4 review.

Expectations: wait for a downward shift to 1.0662-1.0676, from where price will rise back towards 1.0787.

Solutions: buy in the range of 1.0662 and 1.0787.