Trading range 1.2155-1.2229

20.05.2021

Daily chart: strong resistance remains in the area of the upper Bollinger band 1.2229-1.2254. The pair is in the middle of the upper Bollinger envelope range, which makes probability of multidirectional movements higher.

Н4: local growth of euro quotes is accompanied by a decrease in ADX indicators, which does not allow bulls to count on growth above the 1.2229-1.2254 zone, from which, accordingly, a new rollback to 1.2188 can be expected.

Н1: the trend potential of the ADX is at the level of the flat forecast. The trading range is limited by the Bollinger envelope limits (1.2155-1.2229).

Conclusions: flat in the range 1.2155-1.2229.
Trading solutions: trading in both directions in the corridor 1.2155-1.2229.