Limited bullish potential

09.03.2021

Daily chart: the pair is going through a stage of intensive upward correction in the direction of the middle Bollinger band (1.3928), from where a decline can be expected again. ADX trending potential is low, so a break above is unlikely.

Н4: locally, the pair is trading upward, being in the upper Bollinger envelope. This opens up space for growth in the direction of 1.3928-1.3952.

Н1: the hourly Bollinger envelope is broken, which also speaks in favor of the continuation of the bullish scenario today in the direction of 1.3928-1.3958.

Conclusions: growth to 1.3928-1.3952.
Trading decisions: purchases to 1.3928-1.3952.