Daily flat forecast

06.05.2021

Daily chart: low trend characteristics of the pair persist, which is probably due to massive news from the US coming tomorrow. Probably, the market will continue to consolidate in the range of 1.1983-1.2030.

Н4: the local trend potential is also at the level of flat values. The trading range of the pair will be limited by the lower Bollinger envelope (1.1978-1.2021).

Н1: as you can see, all timeframes support sideways trading. Therefore, the price today, with a high probability, will not leave the corridor 1.1993-1.2010.

Conclusions: flat in the range 1.1993-1.2010.
Trading decisions: short-term deals in the range of 1.1993-1.2010.