Slipping flat | 26 Enero 2017

Daily chart: ADX parameters remain active and can be treated as bearish support. An attack of support level at 112.12 (lower Bollinger band) can be expected followed by even more intensive decline.

Н4: here we are observing flat indicators, the same as in EURUSD case. Local support level is at 112.52 (lower Bollinger band). Resistance is at 113.58 (middle band)

Н1: localized support level is at 113.25 (lower Bollinger band), ADX is growing but its parameters are too weak yet for a trend. Both decline towards 112.52 and rollback in 113.58-113.83 region are possible

Expectations:

Core scenario - flat in 112.52-113.58

Alternative scenario - decline towards 112.12

Solutions: consider selling from 113.58 to 112.52 and 112.12