Flat Forecast

25.01.2021

Daily chart: ADX is frankly “bored”, which is fully consistent with what is happening on the chart – the pair remains in a flat in the area of the middle Bollinger band (103.61-103.77), and with a high probability, will keep this trend today.

Н4: the local phase of the market is downward. We are waiting for the pair at the lower border of the sideways range (103.36).
The middle Bollinger band (103.61) is also a local support.

Н1: very high saturation of levels, most likely, will not allow active trading today. Resistances are at 103.77, 103.86, supports are at 103.69 and 103.64. Forecast for the day – flat in this range 103.64-103.89.

Conclusions: flat in the range 103.64-103.89.
Trading decisions: short-term trades from the 103.89 zone to 103.64