Growth towards 110.00 can be continued

15.03.2021

Daily chart: the pair is remaining the uptrend, giving no chances for the bears to make a correction. We are waiting for the completion of the 110.00 zone, where the first substantial profit taking will probably begin.

Н4: the local ADX is in the trend zone, therefore, the range of the upper Bollinger envelope (108.77-109.34) can be violated, which would lead to the next phase of distribution.

Н1: as we can see, the development of an intermediate downward wave to the supports at 109.07 and 108.88 cannot be ruled out. Further growth of quotations will be possible from each of these zones.

Conclusions: a rollback to 109.07 and 108.88, then continued growth to 110.00.
Trading decisions: purchases from the zones 109.07-108.88 to 110.00.