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Are there hot heads here?

03 June 2016, EUR/USD

Daily chart: The price has almost touched the middle Bollinger band (1.1245), so now there are good reasons for finalization of the lower band (1.1041). ADX is being corrected, referring to the low potential, but .... We remember about Nonfarm Payrolls!

Н4: a more localized horizontal range within Bollinger envelope (1.1107-1.1208). Will these 100 non-directional points be enough for NFP? It is a question of the day

Н1: even more localized support - 1.1127 (the lower Bollinger band). Resistance lines are at 1.1158 and 1.1193 (middle and lower Bollinger bands)

Expectations: So, from a technical point of view, the euro will spend the day in the corridor 1.1107-1.1208. But in terms of news, anything can happen, so we will not speculate here

Trading solutions: be careful and abstain from trading. Hot heads can try to trade on both sides within the corridor 1.1107-1.1208

Aleksey Panasenko
Analyst of «FreshForex» company
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