Maintaining Bullish Potential

04.02.2021

Daily chart: the pair remains bullish trend pressure, which will contribute to the rising of quotes in the direction of mid-term resistance at 106.03. ADX indicators are at extreme level.

Н4: another local maximum and strong trend dynamics on the part of the ADX speak in favor of retaining the relevance of buying tactics for this instrument.

Н1: mark the area of possible downward correction – 105.06 (middle Bollinger band). Therefore, this price is the best possible with regard to new long positions.

Conclusions: continued growth to 106.03.
Trading decisions: purchases by 106.03.