Market remains bullish potential

09.02.2021

Daily chart: bulls break through the upper Bollinger envelope. On the one hand, this speaks of great possible prospects for further growth. On the other hand, so far we do not see trend activity on the part of the main survey indicator ADX. The ability of the market to close above the round level of 1.3800 will tell a lot today.

Н4: the local upper Bollinger band is located exactly at 1.3800. Therefore, this level today is key and defining.

Н1: the hourly timeframe demonstrates the trendy bullish pressure, which matched the expectation of testing the 1.3800 zone and gives a positional advantage to buyers today.

Conclusions: growth to 1.3800 and 1.3900.
Trading decisions: purchases to 1.38 and 1.39.