Consider resistance level as an entry point | 07 ديسمبر 2016

Daily chart: downward movement is more possible. The goal is mid-term support level 1.2519 (middle Bollinger band).

Н4: more localized support level is around 1.2575 (lower Bollinger band), resistance level is around middle band (1.2682). There is bear momentum on the market.

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Н1: distinct and strong bearish oscellator divergence also indicates that buyers exhausted their potential. That let us consider opening short positions from around resistance level 1.2682 (middle Bollinger band). Support levels (and goals accordingly) are 1.2617, 1.2575, 1.2519.

Expectations: wait for a touch in resistance range 1.2682 after what rapid drop towards 1.2617, 1.2575, 1.2519

Solutions: sell from 1.2682 to 1.2617, 1.2575, 1.2519.