15 March 2017, EUR/USD
Daily chart: the pair has almost broken middle Bollinger band to the downside (1.0587), if it finally does break it, we may see new drop to 1.0506 area (lower Bollinger band).
Н4: here we are observing a strong intermediate support level in lower Bollinger band region (1.0550). It is likely to send the pair back to the upside towards middle Bollinger band (1.0634).
Н1: three pinbars below lower Bollinger envelope border indicates that upward correction towards middle Bollinger band (1.0634) is likely to start. However, ADX shows strong trend, so at any moment bears may try to push the price further down aiming to break 1.0550 and 1.0506.
Expectations: continuing drop towards 1.0550 and 1.0506, however, we should not forget that at first rollback to the upside is possible towards 1.0634 area.
Solutions: consider selling from 1.0634 area towards 1.0550 and 1.0506.
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