Daily flat forecast

24.02.2021

Daily chart: the pair remains in the 100-point corridor of the upper Bollinger envelope (1.2092-1.2196). The market is close to the upper border of this range, therefore, the priority tactic is sales.

Н4: local dynamic resistance from the upper Bollinger band is located at 1.2181, which forms one zone with the level of 1.2196. As we can see, the area 1.2141-1.2149 is holding the euro so far, so we cannot exclude another upward movement to the area 1.2181-1.2196 before the pair turns down.

Н1: ADX reactions are very weak, so today a low-volatility session is possible within the Bollinger bands (1.2141-1.2160). However, it should be remembered that in the evening we will have a number of serious news from the United States (including the speech of Fed’s head Powell).

Conclusions: flat in the range 1.2141-1.2161, with the possibility of a short-term impulse to the zone 1.2181-1.2196.
Trading solutions: trading in the corridor 1.2141-1.2196.