Unclear Set-up | 12 April 2017

Daily chart: the pair has bounced higher from lower Bollinger band (1.0543). However, ADX shows active trend, so bears may attack again. Resistance level is in 1.07 region (middle Bollinger band).

Н4: price consolidation within Bollinger envelopes range (1.0566-1.0645). ADX is weak and changing, so this flat corridor is likely to be valid during the day.

Н1: more narrow trading corridor for today is 1.06-1.0619. Uptrend has been interrupted, so now we have flat market.

Expectations:

Core scenario - flat within 1.06-1.0619

Alternative scenario - shifts to region of 1.0566-1.0645

Trading signals: set-up is quite unclear, we would not recommend to trade at all.