Expecting tomorrow's NPF | 06 October 2016
06 October 2016, EUR/USD
Daily chart: prior to release of tomorrow's NFP data the price is staying in the same channel 1.1160 - 1.1270 for already quite a long time (the range of Bollinger envelopes). ADX is active, but it is far from the trendline area. Bollinger bands are getting more narrow, but in a not much expressed manner. Therefore, with a high probability, we expect the pair staying within the specified range
Н4: just a better shaped corridor 1.1170 - 1.1247. But here ADX parameters are better expressed, so there may be surprises in the form of impulses surges of volatility
Н1: at this local frame we again see weak ADX. The corridor is within the limited range of Bollinger envelopes 1.1191 - 1.1223
The main scenario - flat within the corridor 1.1191-1.1223 .
The alternative scenario - drop to 1.1160-1.1170 area, and then an upward bounce and flat within the corridor 1.1160-1.1223
Trading solutions: cautious trading inside the flat, or abstent from trading at all.
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.
