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Flat continues

Flat continues | 16 September 2016

16 September 2016, EUR/USD

Daily chart: ADX parameters have changed only slightly, therefore, with high probability, potential around the middle Bollinger band (1.1250) will continue on Friday.

Н4: a horizontal corridor inside Bollinger envelopes (1.1215 - 1.1250). ADX is passive and shows correction, so we do not expect the price to get out of the range.

Н1: a little better shaped corridor 1.1229 - 1.1250. Of course, we can not exclude new moves out of it. This complicates putting stop orders and as a result, safe and predictable trading.

Expectations: so, we can expect a continuation of the flat in a narrow corridor 1.1229 - 1.1250. Moves to both sides are probable.

Solutions: omit a day because Stops will significantly exceed possible profit.

Aleksey Panasenko
FreshForex Analyst
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