Drop to 1.0580 and later rise again | 13 يناير 2017

Daily chart: bulls have broken strategically important upper Bollinger band (1.0632) and shaped reversal Over&Under pattern with upward entry point in 1.0350. One might expect downward reversal and a drop to the indicated area. Moreover, ADX is passive yet and is not supportive of buyers' intentions.

Н4: there is technical downward correction towards supports of 1.0580 and 1.0500 (middle and lower Bollinger band). One may try to start rising from any of these levels.

Н1: localized support level is on lower Bollinger band (1.0580). Bears are unlikely to break it and go further down.

Expectations: we would expect a drop to 1.0580 and later a new rise towards 1.0651

Solutions: consider looking for upward entries around 1.0580 (in case of long signals in this area).