Nice trading plan for you | 20 February 2017

Daily chart: keep monitoring two oncoming Over&Under patterns - bullish one from around 1.0574 and bearish from around 1.0760 (see purple arrow trajectory). Both patterns may be promising considering relatively small risks and good risk-to-reward ratio. That's why those traders who use limited orders may set corresponding buy or sell limits on specified regions right after opening.

Н4: as we may see patterns are mirrored locally, that, obviously, is a sign of validation and increased chance of breakout. Rapid rise is likely up to 1.0814, there we can also see local bearish O&U.

Н1: little more localized support level in 1.0565 region. Resistance level at 1.0643 (middle Bollinger band) allows us intraday selling aiming at 1.0574.

Expectations: touch at 1.0643 followed by decline to 1.0565, and then start of mid-term rise towards 1.0770-1.0814,

Solutions:

1. Consider selling from 1.0643 to 1.0574

2. Consider buying from 1.0565 to 1.0770

3. Consider limited selling from 1.0770-1.0814