Pound. 1.2137-1.2216 – range for this day | 31 October 2016

31 October 2016, GBP/USD

Daily chart: the pair consolidates within the lower Bollinger envelope (1.1893-1.2360), and ADX continues to be aggressive in the trend area, that could spell surprises in the form of pulse distributions.

31102016p1

H4: there is a horizontal band within the range of the Bollinger envelopes (1.2137-1.2243). ADX is weak, so the range is not expected.

31102016p2

H1: slightly more localized range for intraday trading - 1.2137-1.2216. A bunch ADX/RSI is synchronously adjusted, which gives certain advantage to the bulls.

31102016p3

Expectations:so, we wait for a reduction in the area of 1.2137 and then growth to 1.2216. As some alternative to this scenario could be the option with the rebound from 1.2174.

Trading solutions: looking for buying in the 1.2137 area with the 1.2216 aim.

analytic
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus