Bad day for trading | 02 December 2016

Daily chart: ADX is growing, but it is not in trend yet. At the same time there is a distinct bullish momentum. We will see today whether news release will support it or not. Resistance range is 1.2576-1.2600.

Н4: Yesterday attempt to break out was not very successful - bears won away a solid inside bar. However, there is still a downward movement towards upper Bollinger band (1.2635)

Н1: the situation seems quite uncertain. The pair is trapped inside 1.2494-1.2668 corridor, which seems not to be ready for possible shifts. Considering that price is in the middle of the corridor, it is a real challenge to choose entry points and stop-losses.

Expectations: anything is possible: upward shift to 1.2668 and drop towards 1.2494. If you are not an aggressive trader (or you are not experienced enough), consider refraining from trades before the Non-Farm report is published.

Solutions: none.