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1.0610-1.0684 Range

1.0610-1.0684 Range | 17 January 2017

17 January 2017, EUR/USD

Daily chart: we are observing the bullish momentum against lower ADX parameters. So we expect attempts to continue up move but with no trend support (with frequent rollbacks).

1.0610-1.0684 Range

Н4: here the price is trapped within Bollinger envelopes range (1.0569-1.06682). ADX is growing but far from trend yet, so it is better to consider buying after 1.0569 is touched

1.0610-1.0684 Range

Н1: there is more localized support level on middle Bollinger band (1.0610), resistance level is at 1.0668 (upper band). The pair is heavily overbought locally, indicators require recharging.

1.0610-1.0684 Range

Expectations: we would expect a rollback towards 1.0610 and later a new growth attempt to 1.0668

Solutions:

1. Consider selling towards 1.0610

2. Consider buying around 1.0610

Aleksey Panasenko
FreshForex Analyst
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