Trading range 1.2000-1.2051

23.04.2021

Daily chart: the pair retains not only the medium-term upside potential to the upper Bollinger band (1.2107), but also all the risks associated with the price being in the middle of the upper Bollinger envelope range, when corrections of any depth are possible, up to the middle band (1.1906).

Н4: the local trading range of the pair is clearly sideways and is currently limited by the support at 1.2000 and the resistance at 1.2061. There are no technical reasons for going outside this corridor.

Н1: we confirm the non-directional trend of the euro on the hourly chart, where the dynamic resistance from the upper Bollinger band is slightly lower, at around 1.2051. Therefore, the forecast for the day is flat.

Conclusions: flat in the range 1.2000-1.2051.
Trading solutions: trading in both directions in the corridor 1.2000-1.2051.