07 Februari 2017, EUR/USD
Daily chart: the price is in upper Bollinger envelope range (1.0682-1.0839). Considering edging and passive ADX we can expect continuing flat in this region.
Н4: the situation here can be treated as preparation for decline: lower Bollinger envelope was broken and now there is technical rollback towards middle band (1.0767), on this level we might meet high euro supply to sell.
Н1: here we are observing a similar situation. 1.0767-1.0791 region is very promising for selling signals. To activate potential downside move one need to break support around 1.0721. Unless it is done, the market would be mostly flat.
Expectations:
Core scenario - we expect the pair to touch 1.0767-1.0791 and start to decline towards 1.0650
Alternative scenario - flat in 1.0721-1.0791
Solutions: consider selling in 1.0767-1.0791 region