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It's not worth the effort

20 September 2016, EUR/USD

Daily chart: the pair confirms the flat character of movement, because yesterday even the bottom Bollinger band (1.1118) was not finalized, and now the price is within the bottom envelope (1.1118-1.1202)

Н4: at this local frame the pair is still looking to south, but the range matches the range of the daily bottom envelope - 1.1129-1.1201. ADX is weak and corrective, so only the flat is considered.

Н1: and the third frame, where trading takes place in the non-directional horizontal corridor: 1.1163 - 1.1182. There is absolutely nothing to do here, so we are still waiting when the market signals of its readiness for active movements. But, apparently, not today.

Expectations: this day will obviously be spent within the flat channel 1.1163-1.1182

Solutions: do not trade today. 20 points do not worth the effort.

Aleksey Panasenko
Analyst of «FreshForex» company
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