16 January 2017, EUR/USD
Daily chart: Friday closed with bullish inside bar, that can be a signal of up move. To ensure up move buyers need to break higher than 1.0684 (see blue arrow). However, considering very weak ADX decline is possible towards middle Bollinger band (1.0488, see red arrow)
Н4: there is a local resistance level around upper Bollinger band (1.0679). ADX here is also weak, rollback to the downside towards 1.0596 (middle Bollinger band) is possible
Н1: here bulls are fully armed (which does not match day time-frame). If barrier at 1.0679 is broken, there would be no obstacles for an up move. Now we are waiting for reaction to 1.0679.
Expectations:
Core scenario - touching in 1.0679 and later rollback towards 1.0596
Alternative scenario - breaking of 1.0679 and further rise towards 1.0900
Solutions:
1. Consider buying around 1.0596
2. Consider selling around 1.0679
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