EURUSD – Market consolidation in the range of 1.0236-1.0287

15.08.2022

Daily: the upper Bollinger envelope was not broken, so the support from the middle Bollinger band (1.0227) may not be too strong. Nevertheless, the short-term effect of it may be noticeable.

H4: a very strong confluence takes place in the area of 1.0206-1.0227 (H4-bottom and daily average Bollinger Bands). Thus, their breakdown today will be an unlikely event.

H1: We also observe the consolidation range of 1.0236-1.0287 (Bollinger envelope size), where the pair may spend the whole trading session today.

Results: Consolidation in the range of 1.0236-1.0287.

Recommendations: Trade in the range of 1.0236-1.0287.