Flat forecast

13.09.2021

Daily chart: the pair remains in a wide-range flat between support at 109.61 and resistance at 110.30. There are no signs of going beyond this trend – ADX is in the weak zone and continues to fall.

Н4: the local upward phase will meet resistance in the area of the round level 110.00 and the middle Bollinger band (110.03), where a stop is possible today. In case of a breakdown of this level, quotes may rise by another 30 points.

Н1: there is no trend potential on the hourly chart, which also indicates a very low probability of a breakdown of the resistance zone 109.99-110.03. Support is also very close to current prices at 109.90 and 109.77.

Conclusions: flat in the range 109.77-110.03.
Trading decisions: short-term deals in the range of 109.77-110.03.