Flat continues | 31 أغسطس 2016
31 أغسطس 2016, GBP/USD
Daily chart: the pair does not change its basic tendency (flat inside Bollinger envelopes 1.2872 - 1.3322). Given the relatively low volatility and weak ADX, we can assume that the price will continue to rotate around the axis 1.3084 (middle Bollinger band). Apparently, it will continue the flat prior to Non-Farm release on Friday
Н4: here the price is concentrated in the bottom Bollinger envelope (1.3030 - 1.3130). ADX is growing, but is still far from the trendline area
Н1: a flat narrow zone inside Bollinger envelopes (1.3063 - 1.3104). Here ADX is correcting downwards. This means that the price yet lacks potential to break these borders.
Expectations: flat range 1.3063 - 1.3104 and this trend is likely to continue prior to Friday's NFP release
Solutions: 40 points is not too good range for trading. I recommend taking a break
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
