Unstable flat | 23 December 2016

Daily chart: upward rollback has every sign of technical correction (not of a reversal and new uptrend). The pair is ready for a new decline to 1.0342 (lower Bollinger band). However, touch of middle Bollinger band (1.0569) is still possible. Here, around middle band, is the best range to enter market with long positions.

Н4: we see local aggressive ADX, which is confusing along with stable horizontal Bollinger envelopes (1.0371-1.0465 range). Sharp price shifts are possible.

Н1: there is the same flat of Bollinger bands (1.0427-1.0460 corridor). It seems highly likely that this week will close in that same range.

Expectations: we expect flat in 1.0427-1.0460, sharp short shifts to 5th number are possible.

Solutions: consider selling around 1.0460 (or around 1.05 in case of sharp price shifts)