Bullish potential

19.02.2021

Daily chart: the pair remains in the sideways corridor 1.1995-1.2184. The current phase of the market is upward, which will be facilitated by yesterday’s bullish inside bar. This setup allows buying the euro to the upper bound of the range.

Н4: strong local resistance can be met in the area of 1.2146 (upper Bollinger line), from where the price can roll back again to the area of the middle band (1.2088).

Н1: strong bullish ADX on the hourly chart also speaks in favor of the growth scenario in the direction of 1.2146. The next growth phase can be expected from 1.2102.

Conclusions: growth to 1.2146, then a rollback to 1.2102, then continued growth to 1.2184.
Trading decisions: purchases to 1.2146 and 1.2184.