01 March 2017, EUR/USD
Daily chart: euro sticks to declining structure, so we are likely to see further drop towards lower Bollinger band (1.0484). ADX is getting closer and closer to trend, so bears may enter the market at any moment now.
Н4: here we have declining ADX, so bears may have certain difficulties in 1.0550 region (lower Bollinger band). This may cause day flat in 1.0550-1.0613 region
Н1: here ADX is corrective. So we have strong support in 1.0543-1.0550 region. In case of its breakout, movement to the downside will be triggered.
Expectations:
Core scenario - flat in 1.0543-1.0584
Alternative scenario - drop to 1.0484 (in case of downward breakout of 1.0543)
Solutions: consider selling from 1.0584 to 1.0484
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