New drop preparation | 03 March 2017

03 March 2017, GBP/USD

Daily chart: ADX is very aggressive, at any time now the pair may start declining at accelerated pace towards 1.2142.

New drop preparation

Н4: here we are observing locally oversold market and corrective ADX. Lower Bollinger envelope range is not likely to change during the day (1.2204-1.2338)

New drop preparation

Н1: more localized corridor is 1.2251-1.2287 (Bollinger bands). However, ADX is growing, envelopes are narrowing down so it's not recommended entering long.

New drop preparation

Expectations:

Core scenario - flat within 1.2251-1.2287

Alternative scenario - drop to 1.2204

Solutions: look for downward entries towards 1.2204 (presumably from 1.2287)

Пополнение без комиссий в компании FreshForex

Aleksey Panasenko
FreshForex Analyst
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