Quiet End of the Week | 20 January 2017
20 January 2017, EUR/USD
Daily chart: ADX remains passive, so the pair is unlikely to go beyond upper Bollinger envelope borders (1.0540-1.0710)
Н4: here we see the same situation: the price is inside more localized horizontal corridor (1.0574-1.0710), ADX is absolutely indifferent to anything today.
Н1: locally bears exercise control over declining nature of chart, so they shall not loose resistance level at 1.0675 (upper Bollinger band). This would modify this situation of advantage for them. Support level is in 1.0601 region (lower Bollinger band and round psychological level)
Expectations:
Core scenario - flat in 1.0601-1.0675
Alternative scenario - a shift towards 1.0710 and then flat till the end of the week
Solutions: consider selling towards 1.0601 (valid for core scenario)
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.
