06 Marzo 2017, EUR/USD
Daily chart: the pair shot to middle Bollinger band (1.0619) making possible either further rise towards upper Bollinger band (1.0748) or reversal to the downside towards 1.0488 (lower Bollinger band).
Н4: here situation is quite similar: bullish momentum along with active ADX ensure movement to the upside. However, resistance around 1.0619 is very strong so we cannot exclude downside reversal scenario (see red arrow).
Н1: indicators are at their extremes now which matches set-ups on all other charts. If resistance level at 1.0619 will hold, we are likely to see reversal and decline towards 1.0550 (middle Bollinger band). Otherwise, bulls may get their chance to attack towards 1.0700.
Expectations:
Core scenario - decline from 1.0619 to 1.0550
Alternative scenario - rise towards 1.0700.
Solutions: consider selling to 1.0550 from 1.0619.
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