Trading range 105.67-106.04

18.02.2021

Daily chart: the pair did not break the upper border of the Bollinger Bands (106.23), which may cause the market to move into correction. The control zone of support is 105.67-105.87. As soon as it is broken, the price will rush to the middle band (104.86)

Н4: the local support area at 105.67-105.70 demonstrates a significant demand for the dollar, so the price may reach the 106.23 zone again before a new correction effort is made.

Н1: within the day the asset is traded in the sideways channel 105.67-106.04, which is limited by the size of Bollinger envelopes. ADX is in a weak zone, which will also facilitate the development of a flat scenario today.

Conclusions: flat in the range 105.67-106.04.
Trading decisions: short-term deals in the corridor 105.67-106.04.