Bullish Potential | 12 ديسمبر 2016

Daily chart: we will soon find out what we are dealing with right now, from a technical point of view. It is either developing bullish Over&Under pattern (blue arrow trajectory), or expanding triangle (shift to new lows, see red arrow)

Н4: there is a distinct bullish inside bar on strong support level 1.0530 - this nice trading set-up allows traders to open long positions in direction of 1.0684 (middle Bollinger band)

Н1: trading within lower Bollinger envelope (1.0521-1.0581) is possible before the price goes up towards 1.0646 and 1.0684.

Expectations:

Core scenario - trading within 1.0521-1.0581 and further growing towards 1.0648 and 1.0684.

Alternative scenario - direct rise to 1.0684.

Solutions: open long positions in direction of 1.0684 with stop in 1.0521.