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Two flat corridors

29 November 2016, EUR/USD

Daily chart: there is distinct bear trend pinbar, that allows bears to move towards 1.0400 (lower Bollinger band). Now ADX is slow. The market might be waiting for Friday non-farm data.

Two flat corridors

Н4: flat corridor is within the range of Bollinger envelopes (1.0523-1.0650), it is unlikely to move beyond the envelopes today.

Two flat corridors

Н1: more localized flat corridor 1.0568-1.0628 (Bollinger bands range). Envelopes are narrowing but ADX is not strong enough for big moves.

Two flat corridors

Expectations:

Core scenario - flat market 1.0568-1.0628

Alternative scenario - wider flat corridor 1.0523-1.0650

Solutions: trades in both directions with priority to sells.

Aleksey Panasenko
FreshForex Analyst
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