Trading range 1.3633-1.3686

03.02.2021

Daily chart: the bulls kept the pair above the middle Bollinger band (1.3657), forming a pinbar. This setup remains the relevance of the uptrend, although we see no trend activity from the ADX indicator. Perhaps, the pair will continue to consolidate in the middle band zone.

Н4: the local trading range is still limited by the lower Bollinger envelope (1.3633-1.3686). ADX is in a flat zone, so the market may remain within the 50-point volatility.

Н1: hourly Bollinger envelopes are also in the horizontal plane. Therefore, the forecast for the day is “sideways” in the range of 1.3633-1.3686.

Conclusions: flat in the range 1.3633-1.3686.
Trading decisions: short-term deals in the range 1.3633-1.3686.