Flat potential

05.05.2021

Daily chart: support in the middle Bollinger band area (1.3851) looks extremely stable. It is with respect to this level that the consolidation has been happening for the third day, which has a bullish character. Meanwhile, the probability of an upward impulse is very small, inasmuch as ADX almost “fell asleep”.

Н4: borders of the side channel within the Bollinger envelopes 1.3810-1.3946. However, the volatility will probably be substantially lower, limited to the range 1.3851-1.3900, as evidenced by the fall in the trend potential of the ADX.

Н1: the area 1.3875-1.3888 can also act as a strong support within the day. Dynamic resistance from the upper Bollinger band is located at 1.3922.

Conclusions: flat in the range 1.3875-1.3922.
Trading decisions: short-term deals in the range 1.3875-1.3922.