Trading range 1.3800-1.3850

21.10.2021

Daily chart: bulls retain their trend potential, although for further growth they have to overcome a very difficult barrier in the form of a resistance zone 1.3850-1.3912. It will not be easy to do this, as the history of previous tests of this zone shows.

Н4: the local trend potential of the ADX is decreasing, so we can see the market consolidation within the upper Bollinger envelope (1.3773-1.3850).

Н1: within the day, there is also no sufficient trend potential of the ADX to move beyond the upper envelope. Therefore, you can either trade short-term in both directions in the range of 1.3798-1.3850, or consider medium-term buying from the 1.3800 zone.

Conclusions: flat in the range 1.3800-1.3850.
Trading decisions: short-term deals in the range 1.3800-1.3850.