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.
Н4: flat corridor is within the range of Bollinger envelopes (1.0523-1.0650), it is unlikely to move beyond the envelopes today.
Н1: more localized flat corridor 1.0568-1.0628 (Bollinger bands range). Envelopes are narrowing but ADX is not strong enough for big moves.
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 PanasenkoAnalyst of «FreshForex» company
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