Your favorite 50/50 | 20 December 2016

Daily chart: bears keep pressing and there was no significant correction yesterday. Buyers don't have any achievements, except for oscillator convergence.

Н4: there is a possible support level on lower Bollinger band (1.0338), from here bulls might try to attack in direction of 1.0470 (middle band).

Н1: We also note the aggressive bearish ADX. However, we have either demand or limited buying on round level 1.04, because bears can't fulfill their full potential yet. This might trigger a rollback to 1.0437-1.0470.

Expectations:

Core scenario - correction towards 1.0437-1.0470

Alternative scenario - decline to 1.0338 and later upward correction.

Solutions: bears can sell around 1.0338, bulls can find correction possibilities in direction of 1.0470.