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
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.
