On Monday bulls might take a shot | 26 ديسمبر 2016

Daily chart: the pair closed previous week with bullish inside bar, that gives buyers hope to touch 1.0569 (middle Bollinger band). From there bears might force the pair to move towards lower band (1.0342).

If this level (1.0569) will be broken too, considering oscillator convergence there might be a potential for a full upward reversal to 1.0795 (upper Bollinger band).

Н4: aggressive trend ADX votes for a rise toward 1.0569. Key barrier is upper Bollinger band (1.0476), if it will be broken, there would be even more intensive growth.

Н1: locally ADX is not ready for an immediate shift, so it's possible that, at first, there will be a breakout of upper envelope (1.0460) and later a rollback towards 1.0447 (middle band), and, at last, there will be a major up movement.

Expectations:

Core scenario - a shift towards 1.0476, and later a rollback towards 1.0447 and new intensive growth to 1.0569 (this target level might be touched on the next day)

Alternative scenario - direct rise towards 1.0569

Solutions: buy around 1.0569 (the best entry point is 1.0447)