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Range of the day 1.1081-1.1156

04 July 2016, EUR/USD

Daily chart: very weak corrective ADX indicates divergent outlook for the pair. Now the price is exactly in the middle of the lower envelope between the range 1.1017-1.1240, which makes trading problematic

Н4: the price is clamped within the upper envelope (1.1101-1.1151). So far, a northern nature consolidation, whereas some may see here the bearish "flag".

Н1: we confirm the flat corridor 1.1081-1.1156. Local purchases are little better preferred.

Expectations: Now we expected drop to 1.1081-1.1101, from where it may surge to 1.1156

Solutions: purchase from 1.1081 to 1.1156

Aleksey Panasenko
Analyst of «FreshForex» company
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