EURUSD – Range Trading

03.02.2022

Daily: As expected, the Eurodollar faced resistance in the area of ​​the middle Bollinger envelope (1.1319), and today it is likely that an inside bearish bar will form.

H4: Most likely, in the near future the Eur will consolidate within the upper Bollinger band (1.1259-1.1343) until tomorrow’s “non-farms” (publication of US data on changes in the number of people employed in the non-agricultural sector).

H1: The uptrend is still relevant, but the trend potential from ADX is not strong enough. It also contributes to consolidation either in the narrow corridor of the lower envelope (1.1286-1.1303) or in a wider range supported by the H4-middle Bollinger band (1.1259).

Conclusions: Fluctuation within 1.1259-1.1303.

Recommendations: Intraday trading in the range of 1.1259-1.1303.