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Euro in anticipation of the NFP release

06 May 2016, EUR/USD

Daily chart: support around the middle Bollinger band (1.1359) remains untested, which is likely to happen. A new attempt to grow to the upper band (1.1522) will be made

Н4: a technical correction in the direction of the middle Bollinger band (1.1482). Support is at the levels 1.1359-1.1376

Н1: On the local levels, the pair is clamped between Bollinger envelopes (1.1384-1.1432). ADX parameters appear insufficient to enable a breakthrough. But - we remember about a nonfarm payrolls release.

Expectations: So, in the technical point of view we expect trading inside the range 1.1394-1.1432. But with the high probability, these plans will be destroyed by any of the parties on release of NFP

Trading solutions: I warn against trading today. It will be a lottery

Aleksey Panasenko
FreshForex Analyst
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