Flat forecast

03.02.2021

Daily chart: today, the fourth bar in a row may be outside the upper Bollinger envelope, which will be a sign of an approaching downward correction. In the meantime, an operational space is opened in front of the bulls to fix in the 105th figure (up to the level of 106.03).

Н4: the RSI oscillator has signs of bearish divergence, which indicates a possible exhaustion of buyers and a downward reversal from the 105.14 zone towards 104.54 (the lower Bollinger band).

Н1: intraday dynamics of the pair is still at the flat level. Therefore, the trading range today may be limited by the size of the Bollinger Bands (104.90-105.14).

Conclusions: flat in the range 104.90-105.14.
Trading decisions: short-term deals in the range 104.90-105.14.