Trading range 1.3842-1.3907

12.07.2021

Daily chart: the bulls’ attempt to gain a foothold in the upper Bollinger envelope took place last week against the background of ADX correction, so it is not a fact that this breakout was true.

Н4: the local upper Bollinger envelope has been broken, therefore, after the completion of the rollback in the middle Bollinger band zone (1.3820), a new attempt to rise to 1.3907 will be possible.

Н1: on the hourly chart, the pair is consolidating within the Bollinger envelope range (1.3842-1.3907), forming a kind of bullish flag pattern. This is a bullish sign, but it probably will not work out today.

Conclusions: flat in the range 1.3842-1.3907.
Trading decisions: purchases from the 1.3842 zone to 1.3907.