Trading range 1.1338-1.1384

19.11.2021

Daily chart: the euro bounced upwards, but remains under pressure – the lower Bollinger band again indicates the possibility of a drawdown below the round level of 1.1300.

Н4: dynamic resistance at 1.1384 (upper Bollinger band) led to a rebound downward, which may also indicate a high probability of a new decline in quotes to the 1.1291 area, where the lower border of the envelope range is now.

Н1: the local uptrend is taking place against the background of an active ADX, although, the trading range is potentially limited by the levels 1.1338-1.1384. Probably, today we will see a trade in this corridor.

Conclusions: a rollback to 1.1338, then an increase to 1.1384.
Trading decisions: trading in the range 1.1338-1.1384.