The market is waiting for tomorrow’s news

04.11.2021

Daily chart: the market continues to consolidate within the lower Bollinger envelope (1.1533-1.1604). There are almost no doubts now that we will not see actions until tomorrow’s NFP data is released.

Н4: we mark the borders of the local range within the Bollinger envelopes (1.1561-1.1614). ADX is in the flat zone, which also indicates a further flat forecast for the pair.

Н1: within the day the downward price phase is potentially limited by the support zone at 1.1561, from where, accordingly, we can expect an upward rebound in the direction of 1.1594 and 1.1604.

Conclusions: flat in the range 1.1561-1.1604.
Trading decisions: buying from 1.1561 to 1.1604.