Trading range 1.1750-1.1803

23.07.2021

Daily chart: the pair moved to consolidation within the lower Bollinger envelope (1.1746-1.1830), actively trading through the borders of this range. The ADX indicators went into correction, which indicates a possible decrease in the trend potential of the market.

Н4: local Bollinger envelopes remain in a sideways plane with potential volatility limited by support levels at 1.1759 and resistance at 1.1803. The current phase is ascending, so we are waiting for the revision of the 1.1803 zone.

Н1: generally, the flat forecast of non-directional market movement within the range 1.1750-1.1803 is confirmed. The market is movable, which allows considering transactions in both directions from the borders of the range.

Conclusions: flat in the range 1.1750-1.1803. Trading decisions: short-term deals in the corridor 1.1750-1.1803.