Correction day

21.04.2021

Daily chart: the upper Bollinger envelope has been broken with high bullish momentum, which is an important signal for continued growth. However, here we see no trend support from the ADX. Generally, in such situations, there is a preliminary rollback to the middle Bollinger band (1.3800).

Н4: the local upper Bollinger band is in the 1.4034 zone, which is still the ultimate target for growth. In this case, corrective decline can be directed to the 1.3857 zone (middle Bollinger band).

Н1: low activity of ADX is also noted within the day, therefore, one of the probable scenarios today will be the consolidation of the market in the range of Bollinger envelopes (1.3931-1.4020).

Conclusions: flat with a downward slope in the range 1.3931-1.4020.
Trading decisions: sales from the 1.4020 zone to 1.3931.