Trading range 113.80-114.23

01.11.2021

Daily chart: the ADX indicator is correcting, therefore, despite the clear perspectives for continuation of the growth to the upper Bollinger band (115.30), further filling of the “bullish flag” will be possible with the transfer of the specified target to the next day.

Н4: local Bollinger envelopes, as before, retain their sideways orientation, which, against the background of a weak ADX, may leave price fluctuations in the 90-point range of 113.34-114.23.

Н1: the hourly upper Bollinger band (114.16) has not been tested yet, so bulls will probably be able to reach this mark today. Meanwhile, the ADX trend potential is absent, therefore, a rollback of quotes to the middle band (113.80) can be expected from the 114.16-114.23 zone.

Conclusions: growth to the zone 114.16-114.23, then decline to 113.80.
Trading decisions: short-term deals in the range 113.80-114.23.