Trading range 109.13-109.43

05.05.2021

Daily chart: the pair is consolidating within the upper Bollinger envelope (108.74-109.83). ADX is still in the trend zone, although these indicators are falling markedly.

Н4: the upward local trend is confirmed in the zone of the middle Bollinger band (109.24), however, potential of the growth seems to be relatively small – up to the upper line at 109.64.

Н1: weak intraday trend potential indicates a high probability of a sideways trend within the Bollinger bands (109.13-109.43). Therefore, the general forecast for today is flat.

Conclusions: flat in the range 109.13-109.43.
Trading decisions: short-term deals in the corridor 109.13-109.43.