Flat forecast

24.05.2021

Daily chart: intraday quotes are growing against the background of increased ADX activity, which may allow quotes to recover to the upper Bollinger band (109.63).

Н4: local dynamic resistance that can stop the bulls today is the upper Bollinger line located at 109.23.

Н1: there is also a substantial drop in the trend potential of the ADX when the price approaches the round level of 109.00. Therefore, we do not exclude a flat within the Bollinger envelopes (108.75-109.02).

Conclusions: flat in the range 108.75-109.02.
Trading decisions: short-term deals in the range 108.75-109.02.