Flat forecast

01.02.2021

Daily chart: the pair has broken through the upper Bollinger envelope, which indicates the medium-term prospects for further growth in quotations. At the same time, a short-term pullback to the 104.34 and below is possible. The bulls can use it to build up purchases.

Н4: dynamic resistance from the upper Bollinger band is located in the 104.99 zone, so this mark is an actual goal for buyers. Nevertheless, there is a drop in the trend potential from the ADX.

Н1: intraday trend potential is at an extremely low level. Therefore, the most expected scenario today is flat. The trading range can fit into the 15-point corridor of Bollinger envelopes (104.62-104.77).

Conclusions: flat in the range 104.62-104.77.
Trading solutions: missed.