Continuation of upward potential accumulation

22.09.2021

Daily chart: there is still no trend potential in the ADX, so we do not see any special reactions to the support at 1.1713 (lower Bollinger band). However, a accumulation of bullish potential can be expected.

Н4: the local lower Bollinger band is located below the current price (in the 1.1694 zone), so there is a high probability of testing this mark before the final upward reversal.

Н1: the intraday Bollinger envelopes keep the sideways trend in the range of 1.1720-1.1742 till now. The activity of the ADX indicator is almost at zero, so low volatility will probably continue today.

Conclusions:
The main scenario is flat in the range 1.1720-1.1742.
An alternative scenario is a decline to 1.1694, then an upward reversal in the direction of 1.1742.
Trading decisions: buying from zones 1.1720 and 1.1694.