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Unsafe flat

22 April 2016, EUR/USD

Daily chart: a continued impulse flat inside Bollinger envelopes (1.1176-1.1463). So far, the indicator analysis (weak corrective ADX, flat Bollinger Bands) suggests that this trend will continue.

Н4: we also have the flat range with the borders 1.1263-1.1387. ADX is rising, but it is in a non-trending zone, so we do not expect the price out of the flat.

Н1: even a better shaped horizontal channel 1.1263-1.1337. ADX is close to the trend value, but the nature of the indicator is the same flat.

Expectations: now, we expect continuation of the flat in the range of 1.1263-1.1337. Trading is not safe, as there is a tendency to either insufficient or excessive volatility

Trading solutions: do not sell. Or we shall run a cautios scalping on younger frames within 1.1263-1.1337

Aleksey Panasenko
Analyst of «FreshForex» company
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