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Flat corridor 1.1111-1.1160

Flat corridor 1.1111-1.1160 | 07 September 2015

07 September 2015, EUR/USD

The daily chart: the pair is in the mid-range of Bollinger envelopes, that, along with low ADX, makes scenario of movement to the upper band (1.1505) and the bottom band (1.0858) equally probable. Yet another option might be a rotation of the price around the middle band (current levels). Such set of scenarios does not allow to make specific trading solutions, so let's check younger charts.

Flat corridor 1.1111-1.1160

Н4: we also have insufficient parameters of ADX here, support is at the lower Bollinger band (1.1071) resistance is on the middle band (1.1219)

Flat corridor 1.1111-1.1160

Н1: Flat corridor 1.1111-1.1160.

Flat corridor 1.1111-1.1160

Expectations: Now therefore, we expect a flat day within the range of 1.1111-1.1160.

Solutions: 1) Trade within the channel 1.1111-1.1160. Purchase looks more safe.

Aleksey Panasenko
FreshForex Analyst
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