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Analysis of how markets closed on Friday

Analysis of how markets closed on Friday | 05 September 2016

05 September 2016, EUR/USD

Daily chart: the pair is (and, most likely, will continue to stay within) the horizontal flat corridor within Bollinger envelopes (1.1043 - 1.1364). ADX is openly going through a downward correction, so trend is not expected to get changed.

Н4: a better shaped range 1.1119 - 1.1199. Since ADX is weak, the price is not expected to get below support 1.1119.

Н1: better shaped support points around 1.1147 and 1.1130. Resistance is at 1.1183 (middle Bollinger band)

Expectations: the day will be spent within the flat 1.1130 - 1.1183

Trading solutions: purchase from around 1.1119 - 1.1130 to 1.1183

Aleksey Panasenko
FreshForex Analyst
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