Daily flat forecast

26.03.2021

Daily chart: testing of the lower Bollinger band (1.1758) may lead to the development of a rollback in the direction of the middle band (1.1923). We note that the ADX indicator retains its trend potential, therefore, in no case can we deny the probability of the continuation of the decline in quotations from the current levels.

Н4: the local lower Bollinger envelope was not broken, therefore, there is a high probability of formation of a correction in the direction of 1.1828 and the upper border of the range (1.1906).

Н1: one of the main possible scenarios today is flat within the Bollinger bands (1.1758-1.1801). ADX indicators are sharply declining, so the end of the week may not be too volatile.

Conclusions:
The main scenario is flat in the range 1.1758-1.1801.
An alternative scenario – growth to 1.1828, with an eye on 1.1906.
Trading decisions: short-term deals in the range 1.1758-1.1801.