Flat forecast

10.11.2021

Daily chart: the bears managed to break through the lower Bollinger envelope, which, against the background of accelerating growth of ADX indicators, can be interpreted as a signal for continued decline in quotations.

Н4: the nearest local target of the bears is the lower Bollinger band (112.59). ADX is in a strong zone, so the pair may go lower even today.

Н1: the intraday trend potential of the ADX is at the level of the flat forecast, so the pair is unlikely to leave the corridor 112.75-113.00 today, which fully coincides with the potential volatility of the euro against the dollar.

Conclusions: flat in the range 112.75-113.00.
Trading decisions: short-term deals in the range 112.75-113.00.