Trading range 108.43-108.93

12.05.2021

Daily chart: the pair continues to consolidate in the area of the middle Bollinger band (108.68), which is already the fourth day. ADX is located relatively close to the trend zone, so an increase in volatility cannot be ruled out. But the scenario of the continuation of the flat looks more probable, as evidenced by the stable Bollinger envelopes.

Н4: mark the local borders of the trading range within the Bollinger envelopes (108.47-109.06). Low ADX activity also speaks of a probable flat forecast for the day.

Н1: a downward rebound from the upper Bollinger band (108.93) may lead to a rollback of quotes to supports 108.62 and 108.43 (middle and lower Bollinger bands).

Conclusions: flat in the range 108.43-108.93.
Trading decisions: short-term deals in the range 108.43-109.93.