17 Februari 2017, EUR/USD
Daily chart: yesterday as had been expected bulls managed a very successful session in their favor forcing the price almost up to middle Bollinger band (1.0694). Now breakout of 1.0770 region would be appropriate, as we remember in this region there is an entry to bearish Over&Under pattern.
Н4: here we have a very active trending ADX and bullish inside bar at previous session closure. The price is moving up, so we expect upward breakout of 1.0694 and further rise to 1.0770. From there euro may drop in mid-term towards 1.0581 or lower.
Н1: this chart is on the verge of downward technical correction but flat may delay the correction indefinitely. Below there is unbroken local bullish Over&Under pattern. The key support level that could help to break it is middle Bollinger band (1.0640, see purple arrow). However, rise continuation scenario is more realistic (see red arrow).
Expectations:
Core scenario - rise to 1.0770 (it might follow touch of 1.0640)
Alternative scenario - in case of price moving below 1.0640, we expect decline towards 1.0560, from there one may consider buying again.
Solutions:
1. Consider buying to 1.0770
2. Consider limited selling from 1.0770
3. Again consider limited buying from 1.0560
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