Log in

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
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.