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A narrow band flat

15 April 2016, EUR/USD

Daily chart: euro continues its steady decline in the direction of the rising bottom Bollinger band (1.1142), where it is likely to face the area of ​​demand and thus support

Н4: a downward movement within the bottom Bollinger envelope (1.1201- 1.1323). We expect the pair on the bottom band, which, moreover, it is a psychological (round) level.

Н1: absolutely calm and flat. The range of Bollinger envelopes is very narrow (1.1250-1.1275). It is a question whether euro will be able to spend all day inside these 25 points. But at the moment it looks that way.

A narrow band flat

Expectations: The main scenario - flat 1.1250-1.1275. The alternative scenario - decline to 1.1201

Trading solutions: we expect the pair to get lower, it may take more than one day to happen

Aleksey Panasenko
FreshForex Analyst
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