Flat range | 22 Juli 2016
22 Juli 2016, EUR/USD
Daily chart: ragged flat within the bottom Bollinger envelope (1.0929-1.1086). ADX is very weak and corrective, which means there are no prerequisites for changing the situation.
Н4: a better shaped horizontal corridor 1.0983-1.1086
Н1: an even better shaped flat range 1.0997-1.1040. If the corridor is broken, bulls will be able to get the price corrected to 1.1086 (See the red arrow).
The main scenario - flat 1.0997-1.1040
The alternative scenario - a wider range, 1.10-1.1086
Solutions: purchase to 1.1086 and sale from 1.1086 are both possible. We need to be careful, because borders of the range may not be tested, making setting TakeProfit and Stop Loss orders difficult
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.
