EURUSD – Bulls will not go above 1.10

24.04.2023

Daily: Support in the middle Bollinger band area (1.0918) retained some prospects for a move towards 1.1034 (upper envelope boundary). However, we see a drop in ADX trend potential, so a continuation of consolidation at current levels seems more likely scenario.

H4: stable horizontal Bollinger envelopes limit the potential trading range to 1.0947 and 1.0988 levels.

H1: strong resistance at 1.0994 (upper Bollinger band, plus the proximity of the circular psychological level 1.1000) may trigger the pair to go downward to 1.0967 and 1.0942.

Conclusion: Decline from the 1.0994 zone to 1.0967 and 1.0942.

Recommendations: Sell from 1.0994 zone to 1.0967 and 1.0942.