Growth to 114.00

12.10.2021

Daily chart: a marked breakdown of the upper Bollinger envelope, against the background of a strong bullish ADX, is a clear signal for the continuation of the upward wave. The pair is firmly fixed above the level of 113.00, so it is logical to expect growth in the direction of the next round level of 114.00.

Н4: locally, the ADX trend state in favor of the bulls is also noted. We are waiting for the breakout of the upper Bollinger band (113.53) and the continuation of the upward impulse to 114.00.

Н1: there is some overbought on the hourly chart, so the bulls may have difficulties with the passage of the zone 113.53-113.60. The pair may need an intermediate rollback downward to gain additional fuel. But, in general, the overall upward forecast remains relevant.

Conclusions: growth to 114.00.
Trading decisions: buying to 114.00.