16 March 2017, EUR/USD
Daily chart: yesterday bulls managed to significantly push the price up but ADX doesn't support their attempts yet. So we may see local bearish Over&Under pattern starting in 1.0800 area (see blue arrow). Bulls may ensure uptrend only if they make an upward breakout of 1.0840 area.
Н4: upper Bollinger envelope breakout along with weak trend ADX. We expect rollback towards middle Bollinger band (1.0648), which can be followed by 1.0800 area breakout.
Н1: several pinbars beyond Bollinger bands indicate correction. However, on this time frame we have aggressive trend ADX so it may stop the correction from going to far down.
Expectations: in general, further rise to 1.0800, followed by possible rollback to 1.0648 area.
Solutions:
1. Consider buying from 1.0648 to 1.0800
2. Consider setting sell limit orders from 1.0800 with stop-loss above 1.0840.
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