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Euro. Opening in November

01 November 2016, EUR/USD

Daily chart: the price is likely to test the middle Bollinger band (1.1023), after which it will be possible to expect a decrease in the direction of 1.0800 (the lower Bollinger band).

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H4: while the price is consolidated within the upper Bollinger envelope, with support on the middle line (1.0931). ADX is not too active, so, apparently, the trend in the accumulation of capacities in the range of 1.0931-1.1023 will continue.

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H1: horizontal break-even corridor within the Bollinger envelope (1.0940-1.0983). We note the corrective and inactive ADX, so going beyond this corridor is not expected.

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Expectations:So, we wait for a flat in the corridor of 1.0940-1.0983.

Trading solutions: the range is relatively small for the euro (43 points), so you had better not trade today.

Aleksey Panasenko
Analyst of «FreshForex» company
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