Trading range 1.1725-1.1762

25.08.2021

Daily chart: the bulls could not overcome the barrier in the form of the middle Bollinger band (1.1778), and now the euro may come under pressure again. The nearest local support for the pair is at the levels 1.1724 and 1.1700.

Н4: low trend potential of ADX potentially limits volatility within the upper Bollinger envelope (1.1724-1.1778).

Н1: Bollinger envelopes are consistently supporting the horizontal trend on the hourly chart. Support is provided by the zone 1.1725-1.1730, resistance is provided by the upper Bollinger band (1.1762).

Conclusions: flat in the range 1.1725-1.1762.
Trading decisions: short-term deals in the range 1.1725-1.1764.