Daily: As predicted, the market preferred the scenario of further correction in the range of the Bollinger center line (1.1293). Most likely, this trend will continue today, which confirms the declining potential from the ADX.
Н4: Let’s mark the trading range for Bollinger bands between 1.1263 and 1.1325. At the moment, there is a bullish phase, which makes it possible to consider long positions with a target on the upper line of the range.
Н1: There is a dynamic resistance level at the upper Bollinger envelope – 1.1293 and a repeated ADX reversal when approaching the trend zone. It is quite possible that the volatility of the EUR today will not exceed even 23 points.
Conclusions:
The main scenario is Bokovik within the boundaries of 1.1270-1.1293.
Alternative scenario – Downward reversal with the target at 1.1270, after rising to 1.1325.
Solutions:
- Cautious trades in the range of 1.1270-1.1293.
- In the second scenario, the range is 1.1270-1.1325.