It's not worth the effort | 20 September 2016
20 September 2016, EUR/USD
Daily chart: the pair confirms the flat character of movement, because yesterday even the bottom Bollinger band (1.1118) was not finalized, and now the price is within the bottom envelope (1.1118-1.1202)
Н4: at this local frame the pair is still looking to south, but the range matches the range of the daily bottom envelope - 1.1129-1.1201. ADX is weak and corrective, so only the flat is considered.
Н1: and the third frame, where trading takes place in the non-directional horizontal corridor: 1.1163 - 1.1182. There is absolutely nothing to do here, so we are still waiting when the market signals of its readiness for active movements. But, apparently, not today.
Expectations: this day will obviously be spent within the flat channel 1.1163-1.1182
Solutions: do not trade today. 20 points do not worth the effort.
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.
