Flat potential

17.04.2021

Daily chart: the trend for this pair is still unchanged – flat in the middle Bollinger band (1.3765). Based on passive reactions on the part of the ADX indicator, we should suggest that the market will remain flat.

Н4: local borders of Bollinger envelopes potentially limit volatility within 80 points (1.3728-1.3806). But, as we can see, the borders of this range may not be tested within the day session.

Н1: the breakout of the lower Bollinger envelope on the hourly chart may not be a full-fledged trading setup due to being born in a flat, when many false signals may appear. Nevertheless, in the area of the middle Bollinger band (1.3775), it is necessary to be careful about possible activity from the side of sellers.

Conclusions: flat in the range 1.3754-1.3804.
Trading decisions: short-term deals within the corridor 1.3754-1.3804.