Flat forecast

27.05.2021

Daily chart: the bulls have the opportunity to gain a foothold in the upper Bollinger envelope, for which the price must pass the middle band at 109.05. The market dynamics is flat, so the main trend will be multidirectional price movements.

Н4: local resistance 109.17 (upper Bollinger line) may not miss the price higher, as evidenced by the fall in the ADX trend potential. Therefore, quotes may drop in the direction of 109.89 and 108.61.

Н1: flat dynamics from the side of the ADX indicator persists on the hourly chart. The trading range may not exceed 20 points (109.00-109.17).

Conclusions: flat in the range 109.00-109.17.
Trading decisions: short-term deals in the corridor 109.00-109.17.