We are waiting for consolidation above 1.4200

18.05.2021

Daily chart: there is substantial bullish momentum in the resistance zone 1.4185-1.4200. However, the ADX parameters do not correspond to a possible breakout yet. Such a scenario, obviously, can be considered in case of closing of today’s trading higher outside the upper Bollinger envelope.

Н4: locally, there is a strong bullish trend in favor of buyers. Therefore, we can consider price fixing in the 42nd figure.

Н1: on the hourly chart, there is also substantial pressure from the bulls in the upper Bollinger band (1.4197-1.4200). We are waiting for breakdown and consolidation.

Conclusions: growth to 1.4250.
Trading decisions: purchases by 1.4250.