10 March 2017, EUR/USD
Daily chart: the pair is consolidated in 1.0513-1.0668 range (Bollinger bands), while ADX doesn't react on today's Non-Farm Payrolls in any way. Will this flat remain valid all day? That's a good question. However, 150-pip region for price rotation is quite enough for euro.
Н4:here we have more narrow Bollinger envelopes (1.0531-1.0604). ADX is more active but it's unclear who ADX supports bulls or bears.
Н1: another Bollinger envelopes narrowing down in 1.0560-1.0604 range. In case of upward breakout of 1.0610 we may see new rise to 1.0668 region (see dark arrow)
Expectations:
The first scenario - drop to 1.0531-1.0560 region followed by rebound.
The second scenario - direct rise to 1.0668.
Solutions: consider buying by quotes decrease in 1.0531-1.0560 region. Target is 1.0668
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