Trading range 1.2107-1.2151

26.01.2021

Daily chart: ADX indicator targets continue to fall, which corresponds to the flat market. At the same time, the bulls could not pass above the middle Bollinger band (1.2191), which may contribute to a decrease in quotations towards the 1.2050 zone (lower Bollinger line).

Н4: the stable state of Bollinger envelopes potentially limits the volatility of the pair within 85 points (1.2107-1.2191). ADX indicators are also not at the trend level here.

Н1: we mark the dynamic support zone 1.2107-1.2117 (lower Bollinger band), resistance – 1.2151 (middle Bollinger band). Apparently, the trading range will not change on Tuesday.

Conclusions: flat in the range 1.2107-1.2151.
Trading decisions: short-term deals in the range 1.2107-1.2151.