Technical analytics

EURUSD market technical outlook

EURUSD
Daily chart:
State of the key reviewed indicators definitely suggests domination of flat tendency. The major is unable to go above the middle Bollinger band (1.0845) so far and it seems that it won’t be able shortly as well. Thus quotes probably will correct in direction of the lower boundary of flat 91.0752 level)

H4-chart:

Local upward phase of the movement also doesn’t have trend tone, therefore growth of the quotes will be limited by resistance 1.0863 (upper Bollinger band). We can consider shorts from this level reckoning on movement in direction 1.0778 (lower Bollinger band). As we see Bollinger bands are in a horizontal plate, therefore trading from the boundaries of the range is the most optimal trading tactics.

H1-chart:

Very weak intraday ADX also suggests possible extension of flat within Bollinger bands (1.0804-1.0845).

Expectations:

Flat in the 1.0804-1.0845 range.

Trading recommendations:

Trades to both sides in the 1.0804-1.0845 channel.

New articles