Trading range 1.2116-1.2131

16.06.2021

Daily chart: ADX indicators remain in the flat zone, so the euro will maintain price fluctuations within the lower Bollinger envelope (1.2100-1.2175).

Н4: extremely low trend dynamics of the ADX indicator suggests that the pair, probably, will not even be able to realize the full potential of the Bollinger Bands (80 points in the range of 1.2084-1.2164).

Н1: on the hourly chart we see a probable sideways channel, which will be relevant for the whole today’s session: 1.2116-1.2131. It is unusual for the euro, but we advocate for what our eyes see. The forecast is flat.

Conclusions: flat in the range 1.2116-1.2131.
Trading decisions: short-term deals in the range 1.2116-1.2131.