Trading range 114.87-115.20

24.11.2021

Daily chart: after the breakdown of the upper Bollinger envelope, a technical rollback of quotes downward occurs, which often happens when the ADX indicator is not ready (as it happens now). The correction potential is quite large – until the middle Bollinger band (114.08).

Н4: the local trend potential is also at a low level, so the pair can produce multidirectional fluctuations within the upper Bollinger envelope (114.57-115.47).

Н1: the most probable intraday trading corridor will not exceed the size of the Bollinger bands (114.87-115.20). As you can see, there is no trend dynamics on all timeframes.

Conclusions: flat in the range 114.87-115.20.
Trading decisions: short-term deals in the range 114.87-115.20.