Flat forecast

27.04.2021

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Daily chart: the pair’s upward correction is targeting the middle Bollinger band (109.09), where there is substantial resistance, from which the USD sale may resume. This is evidenced by the multidirectional movement vector of the price charts and the ADX indicator.

Н4: low local ADX trend potential against the background of the horizontal projection from the Bollinger Bands. The trading range can be limited by the upper Bollinger envelope (107.97-108.34).

Н1: the current stage of the market is a downward corrective one. The downside potential is presumably limited by the support zone 107.88-107.97 (lower Bollinger band), from where we can consider purchases to 108.34 today.

Conclusions: a decline to the 107.88-107.97 zone, then an increase to 108.34.
Trading decisions: purchases from the zone 107.88-107.97 to 108.34.