Unrestrained growth and possible correction | 15 December 2016

Daily chart: aggressive bullish ADX indicates that the market is ready to conquer new highs (119.00-120.00 range). Sells are strictly prohibited:)

Н4: despite strong uptrend, here we can see correctional signals such as 4 bars beyond upper envelope. The pair could also roll back from some psychological level, for instance, from 118.00. Support level is 115.64 (middle Bollinger band)

Н1: this is a potential range of possible downward rollback, this is upper Bollinger band (118.66). Support level is localized in 116.37 (middle Bollinger band).

Expectations: we expect pair growth to 118.66 and later rollback to 116.37.

Solutions:

1. Buy closer to 118.66

2. Sell in the range from 118.66 to 116.37