Bulls keep targeting 110.00

16.03.2021

Daily chart: so, the upper Bollinger band has finally moved to the round level of 110.00, which leaves little doubt that the bulls will reach this target. Moreover, this can happen quickly enough, inasmuch as ADX is in the extreme zone.

Н4: local bullish trend potential is also at a high level. We are waiting for the attack of resistance 109.51 (upper Bollinger band) and a breakout further up.

Н1: the hourly upper Bollinger envelope has been broken, which allows us to consider buying from the middle Bollinger band (109.16), counting on the development of the impulse in the direction of 110.00.

Conclusions: rollback to 109.16, then growth to 110.00.
Trading decisions: purchases from the area 109.16 to 110.00.