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Expecting tomorrow's NPF

06 October 2016, EUR/USD

Daily chart: prior to release of tomorrow's NFP data the price is staying in the same channel 1.1160 - 1.1270 for already quite a long time (the range of Bollinger envelopes). ADX is active, but it is far from the trendline area. Bollinger bands are getting more narrow, but in a not much expressed manner. Therefore, with a high probability, we expect the pair staying within the specified range

Expecting tomorrow's NPF

Н4: just a better shaped corridor 1.1170 - 1.1247. But here ADX parameters are better expressed, so there may be surprises in the form of impulses surges of volatility

Expecting tomorrow's NPF

Н1: at this local frame we again see weak ADX. The corridor is within the limited range of Bollinger envelopes 1.1191 - 1.1223

Expecting tomorrow's NPF

The main scenario - flat within the corridor 1.1191-1.1223 .

The alternative scenario - drop to 1.1160-1.1170 area, and then an upward bounce and flat within the corridor 1.1160-1.1223

Trading solutions: cautious trading inside the flat, or abstent from trading at all.

Aleksey Panasenko
FreshForex Analyst
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