Trading is not recommended

26.01.2021

Daily chart: ADX remains in a weak “flat” zone, which indicates that the market is probably retain the non-directional nature of trading in a relatively narrow trading range 103.60-103.90.

Н4: stable local Bollinger envelopes also support the sideways trend within the upper Bollinger envelope range (103.60-103.92). An active trending ADX probably “lies”, which is typical for a flat market.

Н1: “sideway” is observed on all timeframes. Support for the pair is provided in the lower Bollinger band (103.68) and resistance at 103.85 (Upper Bollinger Band). The range is too small for normal trading.

Conclusions: flat in the range 103.68-103.85.
Trading decisions: do not trade.