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Trading within Lower Bollinger Envelope on H1 Chart

Trading within Lower Bollinger Envelope on H1 Chart | 14 April 2017

14 April 2017, EUR/USD

Daily chart: the pair has confirmed flat scenario failing to touch middle Bollinger band (1.0699). Support level is still at 1.0543 (lower Bollinger band).

Trading within Lower Bollinger Envelope on H1 Chart

Н4: more narrow flat corridor is within Bollinger envelopes range (1.0565-1.0665). ADX parameters are growing but not trending yet. So the price is not likely to leave this corridor today.

Trading within Lower Bollinger Envelope on H1 Chart

Н1: ADX shows aggressive trend, but it is at its highest, so trend will weaken soon. Strong support/resistance levels are in 1.0594-1.0635 (lower Bollinger envelope)

Trading within Lower Bollinger Envelope on H1 Chart

Expectations: flat within 1.0594-1.0635

Trading signals: trading within 1.0594-1.0635

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Aleksey Panasenko
FreshForex Analyst
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