We expect new down move from 115.14 | 19 Enero 2017

Daily chart: we are observing a quite successful bullish session but we are not misled by all this: previously we got the strongest signal of decline, new decline stage is likely to start after possible touch of middle Bollinger band (116.19)

Н4: much more localized resistance level is at 115.14 (upper Bollinger band). The chart shows an ideal decline, ADX is corrective, so I would say that we won't see the pair to go higher than 115.14.

Н1: local trend distribution goes towards 115.14. In this region we can also see additional dollar supply within local bearish Over&Under pattern

Expectations: traders might expect a rise to 115.14 region and then start of intensive decline towards 113.38 and 112.58

Solutions:

1. Consider buying towards 115.14

2. Consider selling from 115.14 to 113.38 and 112.58