Trading range 110.09-110.41

22.07.2021

Daily chart: the correction has reached the middle Bollinger band (110.41) against the background of weak ADX, so growth above this zone is unlikely.

Н4: locally in the 110.41 zone there is also a strong congestion without sufficient trend pressure from the bulls. We are waiting for a rollback of quotes down to 109.88 (middle Bollinger band).

Н1: low trend potential of the ADX indicator is observed on all timeframes. The most probable scenario in such conditions is flat within the Bollinger envelopes (110.09-110.41).

Conclusions: flat in the range 110.09-110.41.
Trading decisions: short-term deals in the range 110.09-110.41.