22 December 2016, EUR/USD
Daily chart: correction towards middle Bollinger band (1.0574) is brewing. Lower band still sticks to downtrnd, however, oscillator convergence indicates that bears are weakening.
Н4: if buyers will break resistance level 1.0479, Over&Under pattern with bullish entry points around 1.0367 would be completed.
Н1: as we might see, bears actively defend their interests, they shaped bearish pinbar before the hour finished. It allows them to move further down (see blue arrow).
Around 1.0473 there might also be a strong obstacle, because we can see there a local bearish O&U
Expectations: correction would be highly likely if bears wouldn't have their advantage. So we might see the pair around 1.0409 again, it might even go towards 1.0367. You can consider buying only if pair goes higher than 1.0479.
Solutions: sell towards 1.0409 and, perhaps, to 1.0367.
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