Flat forecast

20.08.2021

Daily chart: the bulls failed to gain a foothold in the upper Bollinger envelope, which is a probable sign of further market consolidation in the middle band area (109.69).

Н4: low trend activity of the ADX indicator also speaks of a probable flat forecast. Testing of the lower Bollinger band (109.27) cannot be ruled out, but it will be unsafe to consider short positions.

Н1: Bollinger envelope range limits potential volatility within 20 points (109.62-109.82). An attempt to break through the lower Bollinger envelope occurs against the background of low ADX trend activity, therefore, the forecast for the day is flat within the specified borders.

Conclusions: flat in the range 109.62-109.82.
Trading decisions: short-term deals in the range 109.62-109.82.