Trading range 1.4153-1.4193

09.06.2021

Daily chart: the pair continues to narrow the trading range in the middle Bollinger band (1.4152). Based on the further correction of the ADX indicator, we can conclude that the flat for this instrument will be remained.

Н4: we mark the local sideways borders within the Bollinger envelopes (1.4114-1.4193). The range looks very stable and the ADX is in the weak zone. Breakdown of these borders is excluded.

Н1: the hourly upper Bollinger envelope has been broken, so we can expect a short-term surge in buying activity in the direction of 1.4193, from where the quotes will probably roll back down to support 1.4153.

Conclusions: flat in the range 1.4153-1.4193.
Trading decisions: short-term deals in the range 1.4153-1.4193.