Range of 111.68-112.38 | 09 February 2017

Daily chart: bunch of inside bars are gathering in lower Bollinger band region (111.37). That can cause price correction to 113.45 (middle Bollinger band).

Н4: more localized resistance level in upper Bollinger band region (112.72). Support level is around 111.68. ADX is very weak and the price is likely to stay within specified corridor the whole day.

Н1: even more localized flat corridor is 111.68-112.38. This flat corridor is likely to move downward during this day, so intraday traders may consider selling towards 111.68.

Expectations: flat in 111.68-112.38

Solutions:

1. Consider selling from 112.38 to 111.68

2. Consider buying from 111.68 to 112.38