Daily chart: a bullish inside bar was formed from the lower Bollinger band yesterday, which should be considered as an important signal of the end of the downward wave and the transition of the market into an upward phase. Once the bulls are able to gain a foothold above the middle Bollinger band (109.85), the pair will have space for further advance towards 110.73.

Н4: local consolidation in the area of the middle Bollinger band (109.56) has been already going on for 20 hours, and, based on the falling ADX indicators, this trend may persist for the whole day.

Н1: on the hourly chart the flat probable forecast for today’s session is confirmed. The trading range is limited by Bollinger envelopes (109.47-109.67).

Conclusions: flat in the range 109.47-109.67.
Trading decisions:
1. short-term deals in the corridor 109.47-109.67.
2. medium-term buying to 110.73.