Continuation of the consolidation

26.05.2021

Daily chart: the pair continues to consolidate in the area of 1.4100-1.4155. ADX is gaining momentum, which may indicate the formation of a bullish wave in the direction of the upper Bollinger band (1.4288). But this is unlikely to happen today.

Н4: the local trading range remains sideways and is limited by horizontally oriented Bollinger envelopes (1.4115-1.4200).

Н1: within the day we can expect a rebound from the support zone 1.4115-1.4123 (lower Bollinger band). Meanwhile, purchases will be potentially limited by the resistance at 1.4167.

Conclusions: flat in the range 1.4115-1.4167.
Trading decisions: short-term deals in the range 1.4115-1.4167.