Flat forecast

12.06.2021

Daily chart: consolidation in the area of the middle Bollinger band (109.30) continues, and, based on the further correction of the ADX indicator, this trend is still relevant.

Н4: we mark the boundaries of the local horizontal corridor within the Bollinger envelopes (109.30-109.67), where quotes will remain until the end of the trading week.

Н1: the intraday descending phase of the movement is potentially limited by the support at 109.24 on the lower Bollinger band, from where we can again expect a rebound up towards the zone 109.42-109.48. Generally, the forecast for the day is flat.

Conclusions: flat in the range 109.24-109.48.
Trading decisions: short-term deals in the corridor 109.24-109.48.