Reversal confirmed - Touch of 117.29 | 28 ديسمبر 2016

Daily chart: downward reversal is getting closer, but now ADX makes an active correction counter oscillator. So we might count on one last shift to touch 119.24 (upper Bollinger band), later the pair is highly likely to reverse towards 115.85 (middle band).

Н4: here we might see that bears are ready to attack from the current levels. The price is trapped inside Bollinger envelopes range (116.96-117.64), but when it goes beyond lower envelope, we might expect continuing decline towards 115.85.

Н1: there are two support levels on sellers' way - 117.48 and 117.29 (middle and lower Bollinger bands). If they reach the second one, we will have complete bearish Over&Under pattern with entry point for selling in 117.60

Expectations: we expect decline towards 117.29, later going back to 117.60, and then again decline towards 117.00 with 115.85 as target

Solutions: sell from 117.60 (in case of touching in 117.29)