Marking a promising zone for buying

29.10.2021

Daily chart: the pair continues to accumulate trendy bullish potential in the area of the middle Bollinger band (113.13). A direct signal to buy has not been generated yet, so the price can update local minimums.

Н4: Bollinger bands are horizontally oriented here, keeping the “sideways” in the range of 113.44-114.24. ADX is still outside the trend zone, so the trend will probably continue.

Н1: the hourly chart shows signs of trend activity of the ADX indicator, so the key support area today is at 113.44-113.53. Buyers can try to pick up the dollar from this zone, which can result in rebounds in the direction of 113.84-113.90.

Conclusions: a rebound up from the 113.44 zone to 113.90.
Trading decisions: buying from the 113.44 zone to 113.90.