Another day of increasing pressure | 03 March 2017

Daily chart: ADX is growing and trending, so bears may at any moment try to attack lower Bollinger envelope border (1.0470) aiming at 1.0352. The pair is not likely to go up because of the downward trend.

Н4: here we see increasing pressure on lower Bollinger envelope (1.0488-1.0550). This corridor is likely to retain during this day.

Н1: we are observing here more localized 30-pip flat corridor 1.0500-1.0530 (Bollinger envelopes range). ADX is falling which encourages calm trading.

Expectations:

Core scenario - flat within 1.0500-1.0530

Alternative scenario - drop to 1.0488 region or lower.

Solutions: consider entering only down, so look for trading signals by every shift to the upside.