EURUSD – Trading range 0.9710-0.9764

17.10.2022

Daily: The pair is trading in the middle Bollinger band area (0.9728-0.9876). ADX trend strength indicator is falling, which indicates a likely continuation of the main trend.

H4: We mark the borders of the Bollinger envelopes (0.9664-0.9780), and it seems they do not have time to be tested within one trading session. However the current phase is descending.

H1: We locate the trading levels for today: support 0.9710, resistance 0.9764 (lower and upper Bollinger Bands respectively). Forecast for the day – sideways trend within the specified levels.

Results: Flat in the range of 0.9710-0.9764.

Recommendations: Trade in the range of 0.9710-0.9764.