Trading range 1.3715-1.3754

29.10.2021

Daily chart: the pair is consolidating in the area of three hourly Bollinger bands (1.3692-1.3754). The trend potential of ADX is noticeably decreasing, so this trading range will remain.

Н4: the local lower Bollinger envelope was not broken, which indicates a strong support in the 1.3715 zone. A rollback of quotes upwards in the direction of 1.3754 and 1.3797 is possible.

Н1: within the day the pair is clamped in a narrower range 1.3715-1.3754, and based on the falling ADX, we can make a flat forecast for today.

Conclusions: flat in the range 1.3715-1.3754.
Trading decisions: short-term deals in the range 1.3715-1.3754.