Trading range 1.3873-1.3933

05.08.2021

Daily chart: the pair remains in a multidirectional phase against the background of expectations of tomorrow’s American news. Trading takes place in the middle of the upper Bollinger envelope and, probably, this trend will continue throughout the day.

Н4: locally the conclusion about the sideways trend is confirmed – the pair is in the horizontal range 1.3873-1.3937, which is limited by Bollinger envelopes. ADX is in a very weak zone.

Н1: the ascending phase of the movement is limited by the resistance 1.3933 (the upper Bollinger line), from where we can consider sales to 1.3900 and 1.3873, inasmuch as here is also no trend potential.

Conclusions: growth to 1.3933, then decline to 1.3900 and 1.3873.
Trading decisions: sales from the 1.3933 zone to 1.3900 and 1.3873.