A flat day
30 September 2016, EUR/USD
Daily chart: the pair continues to stay within a horizontal (non-directional) channel inside Bollinger envelopes (1.1142-1.1282) and there is no obvious technical reason for this trend to be changed.
Н4: a better shaped flat corridor 1.1192-1.1258 (Bollinger envelopes ). Weak status of ADX confirms lack of trend potential.
Н1: even even a more narrow channel 1.1202-1.1237. All three frames show the flat, so that is relevant for today.
Expectations: a flat sluggish day within the range of 1.1202-1.1237, almost no spot for trading.
Solutions: take a rest or use the corridor 1.1202-1.1237 for short-term trades in both directions.
Aleksey PanasenkoAnalyst of «FreshForex» company
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