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Check the flat range for today

06 September 2016, EUR/USD

Daily chart: ADX has no interest in what is happening, so we are waiting for continuation of fluctuations inside Bollinger envelopes (1.1062 -1.1364). To be more precise, the price is likely to spend time around ​​the middle band (1.1210)

Н4: a shaped horizontal corridor within Bollinger envelopes (1.1122 - 1.1210). ADX is rising, but it is quite far from the trendline area, so the specified range is relevant for today.

Н1: the trading range for today - 1.1235 - 1.1180. ADX is weak, so the main and basic scenario is flat.

Expectations: so, the pair is likely to continue its flat 1.1135 - 1.1180. There are no technical reasons to leave this band for it

Solutions: either trade inside the corridor 1.1135 - 1.1180 or refraining from opening trades.

Aleksey Panasenko
FreshForex Analyst
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