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The trading range for Monday

26 September 2016, EUR/USD

Daily chart: so far, ADX is in the "low" zone, so we should expect continuation of non-directional movement within narrowing Bollinger envelopes (1.1125-1.1285)

Н4: consolidation within the upper envelope (1.1193-1.1256). ADX is rising, but is still far from the trendline area.

Н1: just a little better expressed support 1.1212 (middle Bollinger band). Resistance is at 1.1237 (upper band). ADX is "dull": it is in the active zone, it is correcting downward, so the price may move up to 1.1256 after touch of 1.1212.

Expectations: So, we wait for fall to 1.1212 and then rise to 1.1256. The flat scenario also can not be excluded in the corridor 1.1212-1.1237

Solutions: look for buy signals around 1.1212 on the smaller charts.

FreshForex Analyst
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