Flat continues

17 November 2016, GBP/USD

Daily chart: ADX continues to stay in the passive area, so the price is still accumulating potential within the upper Bollinger envelope (1.2348-1.2605)

Н4: we confirm horizontal omnidirectional flat nature of trading with a little better shaped support levels - 1.2372 (lower Bollinger band)

Н1: the third frame in a row, where ADX shows weakness. Thus, today's trading range is inside the range of Bollinger envelopes (1.2416-1.2482)

Expectations: continuation of the flat inside the corridor 1.2416-1.2482

Solutions: cautious trading within the range of 1.2416-1.2482.

Aleksey Panasenko
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
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 .
© 2004—2018 FreshForex – Forex broker
manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call